SAINT-GOBAIN ACQUIRES A MINORITY STAKE IN LIVSPACE, A DIGITAL COMPANY FOCUSED
ON THE GROWING RESIDENTIAL MARKETS IN INDIA AND SOUTH-EAST ASIA
Saint-Gobain has acquired a minority stake in Livspace, a digital-first company
that is rapidly growing in India and South-East Asia.
Livspace is a digital-first intermediation platform offering end-to-end
solutions for home interiors, from design to installation. Founded in 2015,
Livspace is a market leader in India and has grown its business rapidly by
deploying significant investments in technology, marketing and end-to-end
solutions. Today, Livspace serves around 20,000 homes annually in India and is
poised to grow rapidly in the future.
This investment will complement the Group's full range of solutions on the
residential market in India which accounts for over 80% of the country's
building construction market.
B. Santhanam, CEO Asia-Pacific of Saint-Gobain, commented:
"I am very pleased to partner with Livspace. Over the last two years, our
businesses have focused on developing an innovative approach for the home
segment by offering its customers end-to-end solutions (design to
installation). This partnership is a win-win for both companies, aiding a
faster scale-up and expanded customer reach. Livspace offers a complementary
route to market, promoting solutions under the Saint-Gobain brand. We will
derive significant synergies and learnings in terms of customer behavior,
technology platform, services and supply chain."
Saint-Gobain designs, manufactures and distributes materials and solutions for
the construction, mobility, healthcare and other industrial application
markets. Developed through a continuous innovation process, they can be found
everywhere in our living places and daily life, providing wellbeing,
performance and safety, while addressing the challenges of sustainable
construction, resource efficiency and the fight against climate change. This
strategy of responsible growth is guided by the Saint-Gobain purpose, "MAKING
THE WORLD A BETTER HOME", which responds to the shared ambition of all the
women and men in the Group to act every day to make the world a more beautiful
and sustainable place to live in.
EUR38.1 billion in sales in 2020
More than 167,000 employees, located in 70 countries
Committed to achieving Carbon Neutrality by 2050
For more information about Saint-Gobain
visit www.saint-gobain.com and follow us on Twitter @saintgobain