The Citizenry Raises $20M Series B Funding - Artisan Home Decor

The Citizenry Secures $20 Million in Series B Funding

The Citizenry, a direct-to-consumer retailer specializing in home decor, has announced the successful completion of a $20 million Series B funding round. This investment was led by NextWorld Evergreen, marking a significant step in the company’s growth trajectory.

The Citizenry distinguishes itself by collaborating with artisans worldwide. They produce limited-edition collections of handcrafted home goods, each piece individually numbered.

Early Beginnings and Founding Principles

Rachel Bentley, Co-Founder of The Citizenry, previously honed her skills at Bain & Company. Her experience focused on strategy consulting within global supply chains.

Bentley observed emerging challenges related to income disparity, human rights, and environmental concerns. However, she also recognized the potential of global supply chains to foster community development, as she explained to TechCrunch.

Alongside co-founder Carly Nance, a seasoned brand strategist, Bentley identified a market need. There was a clear demand for high-quality, ethically sourced home goods.

Driven by a desire to create positive global change, they departed from their corporate roles to establish The Citizenry. Their aim was to establish more responsible standards within the home decor sector.

A Sustainable Business Model

Bentley’s background in global supply chain strategy proved invaluable. It enabled her to develop a business model that prioritizes fair labor practices.

“A common issue with artisan collaborations is short-term engagement,” Bentley noted. “Companies often seek high volumes at minimal cost, focusing on single seasons.”

The Citizenry adopted a contrasting approach. They focused on building long-term partnerships with artisan groups, aiming for collaborations spanning decades. This strategy supports consistent income and sustainable growth for these communities.

Commitment to Fair Trade

The Citizenry is a member of the World Fair Trade Organization (WFTO). They are currently undergoing a rigorous verification process through the WFTO’s Guarantee System.

This involves thorough reviews of each partner and on-site inspections of working conditions. The Citizenry consistently pays its artisans at least double the local minimum wage.

“A growing awareness of social responsibility is influencing consumer choices,” Bentley stated. “Customers are increasingly interested in the origins and ethical implications of the products they purchase.”

Positioning in the Market

The increasing popularity of farm-to-table dining reflects a broader shift in consumer values. However, the cost difference between organic produce and a high-end item like a leather headboard ($695) is substantial.

While The Citizenry may not compete directly on price with retailers like IKEA, their offerings are often more affordable than those of luxury brands such as Williams-Sonoma. Their ability to maintain ethical practices while competing effectively demonstrates the strength of their business model.

Growth and Future Plans

Since its Series A funding round in 2019, The Citizenry has experienced over 200% sales growth. Repeat customers account for 45% of total sales.

During this period, the company has provided support for 3,000 artisan jobs globally. The Series B funding will be used to expand their furniture selection – the most popular category on their website – and to further develop their physical retail presence following the successful launch of their New York City store in SoHo.