- Temple & Webster (TPW) launches its new online-only store for home renovators, The Build by Temple & Webster
- The store will provide an easier and more convenient way to shop for all things DIY, renovation and home improvement
- With an initial range of more than 20,000 products across 39 categories, CEO Mark Coulter believes The Build will become “Australia’s first-stop shop when it comes to renovating and [re-decorating]”
- The company says this is a significant market opportunity, with addressable home improvement categories adding a further $16 billion to its current available market
- TPW shares last traded at $5.40 just before market open
Furniture and homewares company Temple & Webster (TPW) has launched its new online-only store for home renovators, The Build by Temple & Webster.
The store will provide an easier and more convenient way to shop for all things DIY, renovation and home improvement.
With an initial range of more than 20,000 products across 39 categories, CEO Mark Coulter believes The Build will become “Australia’s first-stop shop when it comes to renovating and re-decorating”.
“Our mission is to help our customers live and work in more beautiful spaces, so turning our attention to home improvement is a natural extension,” Mr Coulter said.
“The Build by Temple & Webster is aimed at making home improvement jobs, big or small, easier, cheaper, and better.”
The Build will include bathroom fixtures like vanity units and toilets, kitchen fixtures and indoor and outdoor lighting fixtures.
New categories such as flooring and tiling, outdoor landscaping and building and renovation equipment will also be added in the coming months.
The market opportunity is significant to the company, with addressable home improvement categories adding a further $16 billion to TPW’s current $16 billion total available market in business-to-consumer furniture and homewares.
The new online-only store will complement Temple & Webster’s core furniture and homewares business by offering customers everything they need to make their homes “more beautiful and bring to life their interior decorating and home improvement projects”.
The company is targeting The Build to make a material revenue contribution and earnings before interest, tax, depreciation and amortisation (EBITDA) positive in FY26.
Temple & Webster has also reported that it is trading well and is in line with management expectations, with revenue growth recorded at 23 per cent in the last quarter as compared to the same period in 2021.
The focus for the year is building key strategic moats around the business and continuing to use its strong balance sheet position to further grow organic opportunities whilst leaving room for opportunistic inorganic activity.
TPW shares last traded at $5.40 just before market open.