Welcome to our 9th New Ventures Newsletter! Today we would like to give you a bit of an insight into our Company Building process at REHAU New Ventures. We are also shining a spotlight on an exciting milestone - the launch of our new venture in the US: homerenu. Discover how we are reshaping the world of renovations and stay tuned for more updates. Enjoy reading and let´s stay connected!
The TechTalk, initiated by REHAU New Ventures, is going into a second round! The next TechTalk will take place on September 29th, 12:00 CET. Our topic will be Climate Tech. The TechTalk aims to foster a culture of innovation and strengthen collaboration within the group. It is also an opportunity to get involved, gain insights and help shape the future of the REHAU Group! The TechTalk can lay the foundation for exchange and success - if YOU are there! See you there!
Company Building - From Problem Solution to Transfer
Recently we kicked off a series on our communication channel LinkedIN where we gave insights into what Venture Building is all about. Actually we did not reinvent the wheel. Venture Building is "an approach to business development where a company deliberately creates and nurtures new business models and startups", that´s actually also what ChatGPT says. As REHAU New Ventures we are also in close dialogue with other Venture Builders, like the Lufthansa Innovation Lab sharing our learnings & set up.
What we do in a nutshell... Solving Problems: To unearth promising ideas, we take a structured approach to understand customer pain points. We identify market demands and assemble dedicated teams with one mission: turning monetizable solutions into startups. From Idea to Company Building: Our innovation and venture building process centers on "Better Living" and "Digital Construction," so REHAU adjacent verticals. We weed out ideas that don't address critical problems, ensuring only the best progress to the late-stage innovation process. We prove product-market fit before we scale for business success. Scaling & Transfer: Importantly, we don't keep all our ventures. Our goal is to find investors and transfer them internally or externally with a promising payback rate.
Venture Updates
Say "Hello" to our new venture "homerenu"
Exciting news! Say "Hello" to homerenu, our latest venture which is based in the US. With homerenu we would like to disrupt the renovation industry with digital solutions for kitchen and bath remodeling in the US. homerenu is a state-of-the-art digital platform designed specifically for U.S. kitchen and bath remodelling companies to streamline their workflows, increase efficiency, and drive business growth.
In our video, Bradley Doering, Business Owner of homerenu is giving you some insights into the story behind homerenu and what our vision is like. Simon Ryschka, Head of our New Ventures Innovation Hub Americas, has been driving this project through the different innovation stages. Bradley joined the team as Business Owner at the beginning of this year and will bring this venture to market and scale it to success.
GBC Kitchen & Bath meets REHAU Furniture Solutions AM
Our venture homerenu deals with software solutions for kitchen & bath remodeling contractors. To kick-start the business, we acquired a kitchen and bath remodeler in the Washington D.C. area called GBC Kitchen & Bath. GBC for us is a means to an end to finance, launch and scale our homerenu software business. The goal in the short-term is to help finance the software development at homerenu, since GBC is a cash-flow positive business. In the mid-run, GBC will act as a real-life testing ground for the software – we’ll be able to develop and commercialize it based on real customer feedback. This will speed up and improve our software development and is a huge advantage comparing homerenu to similar start-ups. However, we’re not aiming to run an asset-intensive business like GBC in the long-term: once the software is developed and successfully commercialized, then the goal is to sell it profitably. By the way, our acquisition process, lessons, learnings and insights are perfectly described in this article. Very good read!
Another aspect of this GBC acquisition has just come to our attention recently as GBC Kitchen & Bath itself offers several opportunities for our existing furniture business in the US. By being close to the end consumer, GBC offers insights that could be interesting for us as a B2B supplier. But even more important, GBC's showroom in Ashburn, near Leesburg, provides a great opportunity to showcase REHAU products such as REHAU Cabinet Doors. How could the process look like? When the customer enters the showroom, they get pointed towards a kitchen with REHAU cabinet doors and hopefully fall in love with it. A great way for REHAU to showcase their cabinet door products directly to the end consumer and generate customer feedback.
Picture above shows from left to right: Alan Karakas (COO GBC Kitchen & Bath), Serkant (Partner GBC + Owner Nextdaycabinets), Nils Wagner (CEO New Ventures), Thomas Tröger (CEO REHAU Americas), Bradley Döring (Business Owner homerenu & CEO GBC Kitchen & Bath). Especially Serkan plays a very important role as a partner of GBC and at the same time as the owner of a leading distribution company for kitchen cabinets and vanities (Nextdaycabinets). He plays a crucial role because he would then manufacture the kitchen using our REHAU Cabinets, if the end consumer chooses the design.
For us, it is fantastic to see the openness with which colleagues at REHAU Americas embrace our initiatives and actively seek out opportunities to collaborate.
Press release - Wønderwall launches on Little Red Book in China
Wønderwall is proud to announce the launch of its e-shop on the rapidly growing social media platform "Little Red Book". With approximately 200 million users, Little Red Book is China's equivalent to Pinterest or Instagram, focusing on design and lifestyle-related content. In a strategic move to cater to the evolving needs of its customer base, Wønderwall has introduced two exciting products to its lineup: "Nook" and "Nook Mini." These sleek and space-saving versions of Wønderwall are tailor-made for E-Commerce, ensuring easy shipping, fast installation, and a seamless customer experience.
The e-shop will serve as a valuable learning hub for Wønderwall, providing access to customer data. This data-driven approach will complement the brand's existing offline channels, strengthening its ability to connect with customers. Moreover, the launch of the e-shop marks a significant milestone in Wønderwall's mission to enhance brand awareness across China. As the company progresses in its journey to become a recognized consumer brand in the region, the E-Commerce platform will play a pivotal role in showcasing the brand's exceptional products and design innovations. Wønderwall's commitment to sustainability shines through the launch of "Nook" and "Nook Mini." These products feature specially designed packaging that is both consumer-friendly and environmentally conscious. By using only recycled cardboard and eliminating plastic, Wønderwall demonstrates its dedication to eco-friendly practices. In an exciting turn of events, Wønderwall's e-shop achieved immediate success, with the first "Nook" selling within just 30 minutes of launch. This achievement highlights the demand for Wønderwall's products and the enthusiasm of its customer base.
Wønderwall extends its heartfelt appreciation to its dedicated team in China, including Cynthia Yan as E-Commerce specialist, Molly Mei our marketing manager and Tina Tan, along with the entire development team, for their hard work and dedication in making this expansion a reality. Now the team gets ready for "Double 11" which is the biggest online shopping festival in the world.
About Wønderwalll: Wønderwall is a pioneering force in interior design solutions, committed to redefining spaces through innovation and style. With a passion for sustainability and a dedication to customer satisfaction, Wønderwall is at the forefront of creating exceptional interior design products.
First dream house gets built with euerzuhause
Euerzuhause, our venture committed to helping customers find their perfect home, is delighted to share a remarkable success story with one of its partners, "Ring Immobilienservice OHG" based in Bad Salzungen. This story not only underscores the efficacy of euerzuhuause's algorithm but also celebrates the fulfillment of dreams in the realm of home construction.
Euerzuhause's mission revolves around simplifying the home-building process. By leveraging its algorithm, the platform provides customers seeking prefabricated houses with up to three suitable floor plans and connects them with builders capable of transforming their dream home into a reality. The core of their business model has been built on facilitating this vital connection. However, what truly excites, is witnessing the tangible results of the solution - the actual construction of dream homes. While our platform generates revenue by selling leads to partners like "Ring Immobilienservice OHG," the venture team is equally thrilled to see customers embark on their journey towards building their ideal homes, with euerzuhuause being the starting point.
In an inspiring example, one of our customers is set to break ground on their dream home this autumn. This particular customer selected a suggestion provided by "Ring Immobilienservice OHG." Euerzuhause had a conversation with Tobias Kutschenreuther from "Ring Immobilienservice OHG," who shared his perspective on the partnership: "I immediately noticed a qualitative difference in the customer profiles compared to other providers," said Tobias Kutschenreuther. "The customers expect my call, and thanks to the pre-qualified customer profiles, I can have more pleasant initial conversations. You also notice that euerzuhause takes our wishes regarding lead criteria to heart."
This success story exemplifies how we not only connect customers with expert builders but also enhances the overall experience for partners like "Ring Immobilienservice OHG," resulting in more meaningful and productive interactions with potential clients. Euerzuhause remains committed to its mission of making home dreams come true, one successful partnership at a time. The platform's dedication to delivering value to both customers and partners continues to drive its growth and impact in the ever-evolving world of home construction.
People behind
"Success is not a straight line" - Bradley, Business Owner homerenu
Brad, our Business Owner homerenu is for sure an extraordinary entrepreneur with a remarkable journey that embodies the spirit of innovation and resilience. His unique story and valuable experience make him the perfect addition to our team at REHAU New Ventures as a Business Owner of our venture homerenu. Brad's entrepreneurial journey began in 2017 when he took a bold step by leaving his job at Tesla. His goal? To fundamentally transform the renovation industry. His journey started with a dream, a vision, and a deep commitment to making a difference in a traditional field.
Brad's story is not just about success; it's about embracing failure as a powerful teacher. He's walked the path of entrepreneurship, faced challenges, and learned invaluable lessons along the way. At REHAU New Ventures, we believe that there is no better teacher than experience, and Brad's journey embodies the resilience and determination that drive us forward.
We look forward to the exciting journey ahead. Together, we will drive transformation, learn from experiences, and create a brighter future for the renovation industry.
Welcome Maximilian, Business Owner euerzuhause
We are thrilled to announce that Maximilian Gassner joined us as Business Owner euerzuhause. Max brings a wealth of experience and passion for the platform business to our venture. His previous role as the country manager for "Orderchamp," a digital wholesale marketplace, has equipped him with valuable insights that align perfectly with our mission at euerzuhause. Max's experience in the platform industry spans various sectors. Max has successfully navigated the challenges and opportunities presented by digital marketplaces, making him a valuable asset to our team. Max's prior roles also involved developing strategies to make wholesale purchasing more accessible and cost-effective for independent retailers. This strategic mindset will undoubtedly contribute to the growth and success of euerzuhause. Euerzuhause is more than just a service; it's a seamless platform designed to connect end consumers. Max's experience in managing digital marketplaces aligns perfectly with our platform-focused approach.
With Max on board, we are confident that we will continue to innovate and excel in our mission. We look forward to the exciting journey ahead and the positive impact Max will bring to our venture.
Last words
#We love Followers
We're cranking up the vibes on our social media channels with all the latest and greatest news. If you're not already on board, hop over to LinkedIn and hit that follow button – you won't want to miss out. Stay tuned, drop your feedback, criticisms, and shoutouts our way. Let's make this a year of epic updates together! 🌟👊
