Newnest a furniture subscription model startup
Tutor / Supervisor
Levy, Julien
Student
Geli Soler, Ricard
Document type
Master thesis
Date
2020
rights
Open Access
Publisher
Universitat Politècnica de Catalunya
UPCommons
Abstract
Over the last years the world has become more mobile and younger generations, primarily between 25 and 40 years old, are changing apartment more often.
As it is well known, moving is painful and sometimes represents a big challenge when people have to worry about furniture. This process is generally associated with a notable waste of time, and almost always with an implicit huge cost. In recent years we have witnessed a constant evolution of different business models that have converted many of the elements of our daily lives from a product to a subscription such as cars, movies or music.
Profiting fromthis new trend, newnest wants to offer a furniture subscription model to tackle the problems associated with the process of moving to a new apartment. Users will able to rent the furniture they need for an affordable price without having to worry about logistics. When they no longer need the items, newnest recovers the furniture and refurbishes it to give it a second life and empower circular economy. Customers will no longer need to worry about what to do with the furniture when they move out.
Newnest will target big cities such as Barcelona, London, Paris, etc., where the activity is, where peoplemove more. To start its activity, the company will focus on Barcelona, where the furniture market had a revenue in 2019 of more than 400M. We estimated that within our target age range there are 1.22M people, 54% of which are actually renting an apartment.
The current situation with the COVID-19 pandemic presents a challenge for many startups, including newnest. As market uncertainty increases, investors becomemore reluctant. In this
context we will evaluate our work for the last 6 months and discuss what could be the next steps to follow in these unprecedented times.
Entitat col·laboradora
HEC Paris
Participating teacher
- Levy, Julien