The Lithuanian online furniture store Furniture1.eu has announced an investment in a similar Ukrainian project, the online store Mebelok. Pijus Makarevicius, CEO of Furniture1.eu, wrote about it on Linkedin.
This is Furniture1.eu’s first investment in the Ukrainian market. The financial details and other terms of the deal have not been disclosed.
According to the CEO, the company started negotiations with Mebelok five years ago. Before the war, the Ukrainian company had eight stores in Kyiv, Odesa, Lviv, Kharkiv, and Dnipro.
In May 2022, the parties finally reached an agreement on the funding. Furniture1.eu will not actively participate in the store’s operational activities, entrusting them to the Ukrainian team led by Sviatoslav Amelin (co-owner of Mebelok).
“Yes, we do understand that from financial side it might be not the greatest idea — market is almost non-existent since the war started, but I do strongly believe that with a little support during the difficult times, we might help to build a market leader in a country, which eventually will recover and become even stronger than it was before. We believe in Ukraine, so we invest in Ukraine,” said CEO of Furniture1.eu.
