London, United Kingdom Oct 29, 2022 (Issuewire.com) - Wednesday the 26th of October 2022
By Roberto Mongiovi
Diiiz.com CEO
In recent months, we’ve seen a number of online furniture stores such as Madedotcom going bankrupt as the sector as a whole have been slowing down after Covid 19 and its supply chain crisis while dealing with soaring business costs due to higher import taxes, higher shipping costs, and increased tariffs. This has led some of our competitors, such as made.com to file for bankruptcy or close shop entirely.
Diiiz.com has also gone through very hard times these last 2 years but despite strong difficulties, we have managed to stay afloat. We don't take it for granted. Online shopping has gone down due to the economic crisis and inflation. We are sad for Made.com but we still believe in ourselves. This is the reason why we would like to reassure our customers: Diiiz.com is still taking orders and we will continue to deliver all our customers' orders as expected.
As a smaller company, we believe that Diiiz should take the current economic crisis as an opportunity to reinvent its business model and invest more in a local and European supply chain.
What makes Diiiz different from Made.com, even in such a tough industry?
One of the things that make us different, even in such a tough industry, is our commitment to providing quality products at affordable prices. As a smaller company, we've always been focused on building long-term relationships with our customers and suppliers. To maintain this focus, we work diligently with the manufacturers and suppliers who produce our Design chair and modular sofas in order to provide the best product possible.
Long terms relations with our suppliers and stakeholders have so far helped us to stay afloat despite Margins' erosions. Reorienting our business model in Europe will also be key in this long-term strategy.
How Diiiz survived the lockout?
The Covid 19 lockdown was a major supply chain crisis and we were worried that our business would be affected. Thanks to some successful predictions, we have started to reorient our business model in 2020. We have not been able to change our production plans as quickly as we thought but in 2021 we had already many contacts in the European continent to reorient our production from Asia to Europe.
2023, will be the year during which we will fully implement this strategy and significantly increase our sourcing in Europe. Diiiz.com new focus is the sourcing of new suppliers in Europe who can provide us with quality materials and furniture.
How we survived the cargo container price hikes?
At Diiiz, we have been using cargo containers to ship our products for a long time. When the price of these containers started to soar, we realized that it was time to find an alternative. We had been researching the possibility of developing a warehouse and land just outside of the United Kingdom, but soon discovered that this would be too expensive as well.
Diiiz founders are originally from Belgium. The 3 founders decided in 2022 to reorient Diiiz's business model in Europe, look for new suppliers in Europe, and develop a logistic center in Belgium, in order to deliver to its customers fasters at a lower cost. Brexit and Covid 19 have both accelerated this strategy. During this period, Diiiz also decided to stop the production of vintage and replicas furniture. The new product strategy is to promote and source original European designs only.
Still, a lot needs to be done: Diiiz is constantly looking for new affordable European designers and producers. Europe is full of very expensive luxury furniture brands. But, according to Roberto Mongiovi, (Diiiz CEO), “we need to bring back affordable and middle range furniture suppliers in Europe as well”. With the current economic crisis, “we are convinced, that now more than ever, Diiiz should continue to supply affordable furniture to all”.
What Diiiz future looks like?
The future of furniture supply chains looks promising. The industry leaders in the UK and Europe still need to improve their logistics and retail know-how. The supply chain has to be optimized and ideas found to decrease delivery costs in Europe. Furniture retailers need to be able to operate both offline and online, which requires a diverse set of skill sets. The furniture industry has always been about making beautiful things for the home, but now it's also about using technology for efficiency and sustainability.
in 2023: Diiiz.com wants to
- Improve its logistics costs and supply chain efficiency
- Be closer to its customers
- Be more present online and offline as well
- Become a European platform for affordable European furniture producers
- Better Use of technology and Artificial Intelligence to Become more efficient
Roberto Mongiovi
Diiiz.com
CEO
If you have more questions about Diiiz, contact us at info@diiiz.com
Media Contact
Diiiz.com info@diiiz.com http://www.diiiz.com
