During the quarter Next Capital Fund V announced an investment in GlobeWest, a leading Australian designer and supplier of premium furniture into the B2B trade segment.
Established in 2003, GlobeWest is the largest branded B2B furniture supplier in the country, servicing ~4.4k interior designers, architects, property stylists, developers, and high-end retailers with a broad product range encompassing ~3.5k SKUs (Stock Keeping Units).
GlobeWest benefits from a high perceived value given its strong brand perception in the market. Moreover, GlobeWest has significantly more customers and a larger product range/breadth relative to its competitors. Hence, GlobeWest’s business model exhibits strong defensive characteristics which should sustain its competitive position into the future.
Key differentiators include its broad product range, strong design capability and 20-year history. Next Capital will focus on executing a number of value creation strategies going forward to further establish GlobeWest as a market leader.
