Lotte Ventures Japan Co., Ltd. (Head Office: Shinjuku-ku, Tokyo; Representative Director: Takashi Sawada) hereby announces that it has executed an investment in Social Interior Inc., which operates a furniture subscription service and an off-price marketplace, through a third-party allotment of new shares.
Founded in 2018, Social Interior is guided by its vision of “creating a society where quality goods circulate.” The company operates two core businesses: “Subsclife,” a subscription service for new furniture and home appliances launched in March 2018, and “Subsclife Off-Price,” an off-price marketplace for furniture and home appliances launched in January 2021. Through these initiatives, the company aims to realize a circular economy for furniture.
“Subsclife,” the subscription service for new furniture and home appliances, enables customers to use high-quality, design-oriented products on a monthly basis without owning them. The service significantly reduces upfront costs, and customers may purchase items if they wish to continue using them. Unlike traditional rental services, where cumulative payments may exceed the product price, “Subsclife” ensures that total payments do not surpass the retail price. The service also includes coverage for damage incurred during use, allowing customers to use the products with confidence.
“Subsclife Off-Price,” the off-price marketplace, allows manufacturers to list idle inventory and corporations to offer reused items. Notably, it introduces an industry-first initiative in which a portion of the revenue is distributed to manufacturers and partners each time furniture circulates, thereby incentivizing sustainable participation across the ecosystem.
“Subsclife” delivers benefits such as reduced initial costs and the ability to record expenses, supported by a well-structured business model. “Subsclife Off-Price” establishes a system that enables furniture to circulate sustainably, contributing to SDGs and ESG objectives while creating a mutually beneficial and sustainable framework with manufacturers. Recognizing the strength of this business model, its practical implementation of sustainability, and the strong leadership of CEO Ken Machino and his team, we have decided to invest in Social Interior, a frontrunner in the furniture subscription industry.
We intend to support Social Interior’s continued growth from a broad range of perspectives, including management and business strategy, as it advances the realization of a circular economy. We will also continue to identify and support entrepreneurs who are sincerely committed to achieving bold visions and ambitious goals.
For further details regarding this funding, please refer to Social Interior’s official announcement.
[Company Overview of Social Interior Inc.]
Company Name: Social Interior Inc.
Location: 218 Tokyo Central Omotesando, 4-3-15 Jingumae, Shibuya-ku, Tokyo, Japan
Representative: Ken Machino, Representative Director & CEO
Business: Planning and development of the subscription service for new furniture and home appliances “Subsclife,” “Social Interior Office Development Support,” and the off-price marketplace “Subsclife Off-Price”
Established: November 9, 2016
URL: https://corp.socialinterior.com/
