Sofa giant DFS has acquired furniture retailer Dwell in full to attract “younger, more urban customers” who it hasn’t traditionally targeted.
The acquisition comes after DFS struck a deal with Dwell in February, which saw the sofa retailer provide “modest financial support” to the furniture chain. The partnership followed Dwell’s purchase out of administration by its founder Aamir Ahmad in July 2013.
The two businesses will continue to be run by separate management teams but DFS said the new ownership will “create mutually beneficial opportunities for both companies”.
DFS chief executive officer Ian Filby said: “We’re delighted to bring Dwell into the DFS Group. It is a strong, contemporary brand with strengths that complement DFS’s offering. DFS has a market leading share in excess of 25 per cent, but there is always room for us to attract new customers and we hope to work with Dwell to reach younger, more urban consumers who we haven’t traditionally targeted.”
Dwell chief executive Aamir Ahmad said: “This is great news for Dwell. The management team has always believed in the potential of the brand and with DFS as our parent company we can fully embrace and accelerate new growth opportunities.
“We can also learn from the 45 years of successful retail and manufacturing history that DFS has under its belt, maximise relationships with our suppliers and continue to provide customers with exemplary products and customer service.”