By Paul Wachter
New York Magazine
October 1, 2013
One Kings Lane
Age of co-founders: 38 and 58
Most recent estimated valuation: $440 million
Lesson: Better than a deal on flatware is the perfect set delivered to your in-box.
The name emblazoned on the outer wall of 1355 Market Street, an Art Deco building in San Francisco completed in 1937, is a tribute to the past, not the present: Western Furniture Exchange and Merchandise Mart. As late as 2005, the premises housed 300 furniture wholesalers. By 2008, the number was down to 30, and the developer, brandishing city tax credits, made the sensible decision to reinvent the space for techies. Twitter moved in, followed by Microsoft-owned Yammer. Also came a company that can lay claim to the building’s former identity: One Kings Lane, an online purveyor of furniture and home accessories that is now projecting $300 million in annual revenue.
When I met the company’s co-founder, Alison Pincus, in One Kings Lane’s offices in late August, this historical symmetry went unmentioned. It wasn’t, I’m certain, because she was unaware, but rather because from the outset, she said, “we thought of One Kings Lane as always trying to be more than furniture.”
Click the link to read the entire article which includes multiple quotes from Milton Pedraza, CEO of Luxury Institute: http://nymag.com/news/business/boom-brands/one-kings-lane-2013-10/?imw=Y&f=most-emailed-24h5