Polished.com Inc. and its consolidated subsidiaries operate a content-driven and technology-enabled shopping destination for appliances, furniture, and home goods.
With warehouse fulfillment centers in the Northeast and Midwest, as well as showrooms in Brooklyn, New York, St. Louis, Missouri, and Largo, Florida, the company offers one-stop shopping for national and global brands. The company carries many household name-brands, including Bosch, Cafe, Frigidaire Pro, Whirlpool, LG, and Samsung; a...
Polished.com Inc. and its consolidated subsidiaries operate a content-driven and technology-enabled shopping destination for appliances, furniture, and home goods.
With warehouse fulfillment centers in the Northeast and Midwest, as well as showrooms in Brooklyn, New York, St. Louis, Missouri, and Largo, Florida, the company offers one-stop shopping for national and global brands. The company carries many household name-brands, including Bosch, Cafe, Frigidaire Pro, Whirlpool, LG, and Samsung; and also carries many major luxury appliance brands, such as Miele, Thermador, La Cornue, Dacor, Ilve, Jenn-Air, and Viking, among others. The company also sells furniture, fitness equipment, plumbing fixtures, televisions, outdoor appliances, and patio furniture, as well as commercial appliances for builder and business clients.
On July 29, 2021, the company acquired substantially all of the assets of, and assumed substantially all of the liabilities of, Appliance Gallery, Inc., a retail appliance store in Largo, Florida (Appliance Gallery).
Products
The company sells a vast assortment of household appliances, including refrigerators, ranges, ovens, dishwashers, microwaves, freezers, washers and dryers. In addition to appliances, the company offers a broad assortment of products in the furniture, decor, bed and bath, lighting, outdoor living, electronics categories, fitness equipment, plumbing fixtures, air conditioners, fireplaces, fans, dehumidifiers, humidifiers, air purifiers and televisions. While these are not individually high-volume categories, they complement the appliance to produce a one-stop home goods offering for customers.
Vendor/Supplier Relationships
The company offers more than 700 vendors and over 500,000 SKUs available for purchase through its website. This depth of vendor relationships gives consumers numerous options in all product categories resulting in a true one-stop shopping destination. The company’s principal vendors and suppliers are Frigidaire, General Electric, LG, Whirlpool, Bosch, Viking, Miele, Samsung, Fisher Paykel and Ilve.
During the year ended December 31, 2021, Frigidaire and GE brands accounted for 12% and 11%, respectively, of product purchases.
The company is a member and 5% equity interest holder of Dynamic Marketing, Inc. (DMI), a 60-member appliance purchasing cooperative. DMI purchases consumer electronics and appliances at wholesale prices from various vendors, and then makes such products available to its members, who sell such products to end consumers. DMI’s purchasing group arrangement provides its members with leverage and purchasing power with appliance vendors. For the year ended December 31, 2021, the company purchased a substantial portion of finished goods from DMI, representing 72.1% of purchases.
Marketing
The company’s marketing efforts drive new and repeat customers and promote its websites as online communities relating to major appliances and other products. The company’s strategy is to inspire the customer at each point of their shopping journey, delivering curated messaging, content and advice in an effort to increase engagement and repeat purchasing. The company also has programs to engage appliance enthusiasts and build community through design and customer portals that are intended both to inspire and provide help the business-to-business (B2B) and business-to-consumer (B2C) customers with their projects.
Customers and Markets
The company has physical stores and warehouses located in Brooklyn, New York, Somerset, New Jersey, Hamilton, New Jersey, St. Charles, Missouri and Largo, Florida. The company’s internal logistics network and third-party distribution, delivery and installation agreements allow it to serve, sell and ship to customers nationwide.
Growth Strategies
The company’s strategies are to rebrand the combined company; strengthen the company’s leadership team; create new tools and benefits to engage and simplify appliance shopping and buying for B2B projects with builders, contractors, architects and interior designers who are making or influencing the purchasing decision for their clients; add new, complementary categories and services to its selection to meet its customers’ ever-changing needs; establish a presence to reach more customers and further penetrate markets that are experiencing high levels of housing development and home remodeling; and drive optimized pricing for its products.
Intellectual Property
The company owns several registered domain names, including for its www.goedekers.com website and the Appliances Connection websites www.appliancesconnection.com, 1stopcamera.com, goldcoastappliances.com, and joesappliances.com. As of December 31, 2021, in an effort to protect the company’s brand, it had 4 registered trademarks in the United States.
History
The company was founded in 1951. It was incorporated in the state of Delaware in 2019. The company was formerly known as 1847 Goedeker Inc. and changed its name to Polished.com Inc. in July 2022.
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