Furniture sold online, with a twist
Cuura.space targets property owners to refurbish their units affordably and quickly for the rental market
THESE days, everything is going online. Products and services are being sold on large digital platforms or via individually created social media postings.
Some of these ventures, whether big or small, will succeed. But others could fade away due to intense competition or the lack of having a unique offering.
Selling furniture online may not be novel. But the way Benny Lim Kien Yeap is doing it, it does seem to have some interesting unique-selling propositions that could put a decent moat around his venture.
Lim, a former stockbroker-turned-ecommerce entrepreneur, says the idea for Cuura. space was something that he and his two partners stumbled upon, just before the Covid-19 pandemic started.
“We didn’t go searching to get into the business. It was more like the business found us,” says Lim.
The story goes that right before the pandemic, Lim and his two partners had all moved into their respective new properties but could not find suitable furniture.
It was either a case of the furniture they liked being overpriced or that items that were within their price range did not meet their expectations, in terms of the look and feel.
“So an idea sparked in our minds. The shift to the online retail experience during the pandemic, coupled with the rise in direct-to-customer models in the United States and the United Kingdom, convinced us that the market is ready to buy furniture online.”
What worked to Lim’s favour was the fact that he had successfully built an online ecommerce business before.
Four years ago, Lim and his two partners had built an ecommerce business selling beauty products to the US market. They had sourced their products mainly from China and used social media marketing to gain customer traction.
“So we have a fair bit of experience in marketing, dealing with manufacturers and handling cross-border logistics. We now see a bigger opportunity in the furniture industry,” Lim says.
Despite not having past experience in the furniture industry, the three partners have plodded on, “learning as we go”.
About 10 months ago, and with Rm3mil of self-generated funding, they kickstarted the business. “Our first two orders came from online ads and they went straight to the checkout on our website. That was the proofof-concept we needed,” says Lim.
So what exactly does Cuura do and how is it different from other online sites selling furniture?
Explains Lim, “We like to think that we are on the cutting edge of the furniture business. We are able to provide a wide range of furniture designs at attractive prices with good three-dimensional (3D) visualisation”.
Lim says that Cuura uses complex algorithms in its visualisation technology in order to present furniture selections to customers on its website.
“Similar algorithms are used in peer-topeer reviews on Amazon and other successful ecommerce sites.
“We use our artificial intelligence (Ai)embedded technology to aggregate popular products and present these options. With the combination of 3D visualisation and AI, customers are able to view a wide selection of furniture in a home setting,” he explains.
“Instead of investing in brick-and-mortar assets, we are investing heavily in the technology infrastructure to enhance the retail experience.
“Based on the trajectory of top direct-to-consumer brands in the US, we want to adopt a similar concept and be the first-mover in South-east Asia,” he adds.
Cuura sources its furniture largely from China. How then to ensure that the quality is of high standards?
Lim says that the team has been developing a network of manufacturers in China and has been actively involved in the manufacturing process.
“Every furniture manufacturer we source from has to pass specific criteria.
“Due to the nature of our business being completely online, there is understandably some concern regarding the touch and feel of our furniture.
“However, we ensure that our items go through stringent quality control processes twice before they reach our customers,” says Lim.
Furthermore, Cuura has an extensive refund policy – a 30-day, no questions asked, full refund for all furniture sold. In addition, sofa and bed frames come with a three-year warranty.
Now Cuura is moving on to its next phase – targeting the rental market. It aims to help owners of properties to spruce up their units with Cuura furniture. The offering is called Cuura Rent.
The aim is to provide a quick solution for owners to furnish their bare units affordably and get them listed for rental quickly.
“Full-home furnishing packages include all essential furniture with a designer look and feel, but priced budget-friendly. Prices start from RM18,500 for two bedroom apartments,” Lim says.
Will there be takers? Lim reckons Cuura Rent is actually looking to disrupt traditional interior design (ID) firms and contractors who handle the turnkey for property owners in the rental market.
The idea is for Cuura to handle the job. Property owners needn’t spend weeks scouring physical stores for their items or dealing with ID consultants.
“Cuura promises to have bare units fully-furnished and rent-ready in 14 days. A personalised proposal will be reverted to the customer within 24 hours.
“Our flexible design proposals will always have something for everyone, depending on the budget. We are also transparent with our pricing. Our Cuura Rent furniture prices are the same as our retail division.”
But what happens if the unit needs more than just furniture? Older units tend to need paint and plumbing work. Lim says they are aware of such needs and are prepared to help the customer solve those issues.
“Although our core business is in furniture, we provide wall painting, curtains, grill works and installation of lights to turn a property around. We will outsource these tasks to our list of service providers.
“This is part of our commitment to giving the investors a marketable property, so all they have to do is sit back, relax and let us handle the A to Zs of getting their property on the market,” says Lim.