Dekoruma’s sales double in 2023 amid industry decline

Dekoruma, an Indonesia-based online furniture marketplace, assembled a fruitful 2023 even as others in the industry face a long punch list of issues.

Its competitor, Fabelio, once a notable name in the local furniture market, declared bankruptcy in 2022.

Photo credit: Dekoruma

Furniture and crafts exports from Indonesia also fell 28% last year, as more customers turned to products from neighboring countries like Malaysia, Vietnam, and China.

In 2023, Dekoruma registered US$17.7 million in revenue, a 32% increase compared to a year before. This was driven by a rise in sales, according to the company’s audited filings with Singapore’s accounting and corporate regulatory authority.

Dekoruma did not respond to Tech in Asia’s multiple requests for comments on its financial results.

Revenue rising

Dekoruma is part of a new breed of furniture startups in Indonesia changing the way people purchase and interact with furniture.

The firm was founded in 2015 as an online marketplace for furniture and home appliances, selling everything from sofas and tables to hair dryers and air conditioners. In addition to its own in-house brands, it also carries items from third-party firms like Panasonic and Philips.

Since its launch, the company has served more than a million customers, selling over 100,000 pieces of furniture.

To complement its online store, the firm operates offline experience centers that operate much like Ikea’s showrooms. There, customers can explore product pairings and get a look and feel of how various pieces may fit together.

Photo credit: Dekoruma

But Dekoruma has also grown beyond just being a furniture marketplace. The company also offers interior design services through Dekoruma Desain Interior, a separate business unit. It also operates Dekoruma Properti, a platform for home buyers that’s run in partnership with real estate developers.

In 2023, most of the company’s revenue growth came from sales of goods, which grew 98% year on year to US$22.3 million. This number doesn’t include Dekoruma’s discounts to customers, which amounted to US$8.6 million for the year – 6x more than in 2022.

Acquisition extends runway

Offline investments, online future