![]() |
“From house to home, achieve a good life” |
Founded: 2015, in Nanjing, China
Category: Home furnishing & Internet Primary office: Nanjing, China Core technical team: Nanjing, China Status: Private Employees: 500 (approx.) Amount raised: CN¥1 billion [US$140 million] (2 rounds – 2018) |
OVERVIEW
PERFORMANCE METRICS
ACHIEVEMENTS
|
Sells
- Sell whole house decoration to clients who want to save money, convenience, and want artistic themes – fully stocked home in which clients can pack their bags and move in
Channels
- User-friendly online and mobile Apps (IOS & Android)
- Accurate positioning of user groups and creation of customer profiles informing advertising
- Market via social media sites, including Weibo, Wechat and Xiaohongshu
Competencies
- A new business model: Integrates internet, sharing economy, and decoration industry
- Integrates real estate companies, designers, furniture manufacturers, decoration companies to build a one-stop home decoration platform and a one-stop convenient solution
- Use internet, big data, and information technology to distribute and process massive amounts of information (e.g., recommend preferred designs and products to users)
- Virtual reality, augmented reality, artificial intelligence
Resources
Assets
- Dramatic Reality, the self-developed artificial intelligence design platform, which improves the efficiency of interior design and solved copyright and revenue problems for established designers caused by plagiarism
- Online & Mobile enabled platforms
- Strategic cooperation with Junfa Group to create a joint venture (Yunnan Junfa Aijia Life Company) to facilitate entrance into southwest China market
- Strategic partnerships with famous real estate companies to provide home decoration solutions for their owners (e.g., Central China, Modern Land Co. Limited, TEDA Group)
- Design resource library: Numerous excellent designs from recognized designers (through “Happiness House” competition)
- Partnerships with over 50 well-known respected home furnishing brands and furniture manufacturers (e.g., Kuka Home, Qumei) to ensures high quality
- Partnership with Bank of China to provide users with low threshold, flexible and convenient home decoration installment service
- Talent development – “ Ai D Plan” cooperates with Nanjing universities to select candidates for future development
Processes
- “Clicks and Mortar” – opens 5D Home & Furnishing’s Hall to give clients a better experience
- 5-year water and electricity warranty, 2-year decoration warranty, lifetime maintenance and upgrade service after-sales commitment
- Connects designers’ salary with the number of times a design is used directly, enabling designers to continuously improve their designs
- Technology support for frequent updates to innovate and improve, and provide better user experience
- Payment in accordance to the stage of decoration – clients check the decoration in the App and if they are satisfied with the results, then pay the fees of the current stage
- Clients manage and monitor their decoration process on the App 24/7, improving delivery efficiency and ensuring quality
- Apply virtual reality, augmented reality and artificial intelligence to present users with virtual and vivid designs
- Combines standardization with personalization (Including Chinese, European, American, and modern decoration styles) respecting budget and permitting clients flexibility in design combinations
Priorities
- Put the customers first and improve user experience
- Continue to invest in information technology, artificial intelligence research and development
- Seek more cooperation/partnerships
- Vision: Using sharing economy to build home decoration Internet ecosystem
Assertions That Best Describe What the Company Did to Scale Early, Rapidly & Securely
- Increase demand by using scientific and technological advances to develop innovative products and services
- Increase market share by applying digital technology to brand, market, sell, and service customers more cost-effectively than competitors
- Increase demand by enabling users to participate in product and service development
- Advance product designs and high-quality customer services to increase demand
- Increase the company’s value by continuously seeking and receiving funding to support the company’s plan to scale and improve its image in the marketplace
- Increase demand of products and services by combining two or more resources in a way that the value created from them exceeds the sum of the value created from each resource separately
References
- https://www.ihomefnt.com/aboutus/
- https://www.crunchbase.com/organization/aijia-home-furnishing-products-co#section-overview
- https://baike.baidu.com/item/%E8%89%BE%E4%BD%B3%E7%94%9F%E6%B4%BB/22142691
- https://36kr.com/p/1722829586433
- https://www.sohu.com/a/241527398_440492
- https://k.sina.cn/article_5627453138_14f6c1ed2001006x3x.html?from=home
Contributors
- Mengya Chen