Subsclife

About Subsclife

Subsclife, which rebranded to Social Interior Inc. in March 2022, operates a subscription service and an off-price marketplace for furniture and home appliances in Japan. The company was founded in November 2016 by Ken Machino. The inspiration for the business came from Machino's personal experience in 2017 of finding furniture expensive while being uninspired by cheaper options, leading him to launch Japan's first furniture subscription service in March 2018.

The company's primary service, initially called "subsclife," offers both individuals and corporations access to new, design-oriented furniture and appliances for a monthly fee. A key feature of their model is that the total subscription payments will not exceed the retail price of the item. At the end of the subscription period, which can range from three to 24 months, customers have the option to either purchase the item or return it. This model is designed to lower the initial financial barrier to acquiring high-quality furnishings. The service is popular with corporations for office fit-outs, especially as workplace needs have changed, and with individuals for home and remote work setups. As of March 2022, the service had over 1,000 corporate clients and offered approximately 120,000 products from over 600 brands.

In addition to the subscription service, the company launched "subsclife SHARE" in January 2021, an off-price marketplace for furniture. Now known as "subsclife Off-Price," this platform sells manufacturers' surplus inventory and returned items, contributing to a circular economy for furniture by reducing waste. This initiative addresses the furniture industry's challenge of managing excess stock without diminishing brand value.

The company has secured significant funding to support its growth. In September 2020, it raised approximately 3 billion JPY through a combination of third-party allotment and loans from financial institutions. In March 2022, concurrently with its rebranding, the company announced another funding round of about 2.2 billion JPY to purchase more furniture for its subscription inventory, increase marketing efforts, and hire more staff, including interior coordinators.