British homeware brand Olivia’s saves Houseology from collapse

Luxury furniture and homeware brand, Olivia’s, has completed a deal to buy Houseology, which went into administration last month.

Olivia’s, which is part of The Moot Group, acquired all IP and assets, including Houseology’s suppliers and stock, for an undisclosed amount. Olivia’s will continue to run Houseology as a standalone brand under The Moot Group umbrella.

Olivia’s said the acquisition, which was agreed for an undisclosed amount at blind auction, offers The Moot Group the opportunity to expand in the “lucrative” UK and international e-commerce market and “take advantage” of growth opportunities in the sector.

The company added it plans to integrate all Houseology customers and suppliers within its current offering, while continuing to run Houseology as a standalone brand under The Moot Group umbrella.

The Houseology Group had experienced a slow decline in sales over the last 12 months which eventually led to a “poor” Q4 sales performance at the end of last year in, forcing the board to file for administration.

The Moot Group is led and founded by Nick Moutter, a s erial tech entrepreneur from Staffordshire. The Moot Group added it is currently on target to deliver £20m in revenues for 2020.

Moutter said: “When I first started Olivia’s, Houseology was one of the brands we aspired to be as big as some day. Being able to help save it from collapse after just two years of trading is a great feeling, and a direct result of the expertise and innovation in marketing and technology that we have at The Moot Group.

“I’m excited to expand The Moot Group’s current luxury home offering and breathe new life into a brand that has served so many loyal customers over the last 10 years. We’re working hard to ensure a smooth transition for Houseology customers and suppliers, and deliver our mission of being the place online to get fashion for your home.”