
Artemest Bags $5 Million for Tech Development and Growth
Artemest recently reached more than 1,000 artisans and luxury brands on its platform, most of which have exclusive distribution agreements with the marketplace.
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CIO Applications Europe | Monday, August 17, 2020

Artemest recently reached more than 1,000 artisans and luxury brands on its platform, most of which have exclusive distribution agreements with the marketplace.
FREMONT, CA: Artemest, the Milan and New York-based e-commerce platform selling Italian luxury design, home decor, and lifestyle, raised more than $5 million in equity round of financing with the French private equity OLMA Luxury Holdings and the Swiss holding Brahma joining the Milan-based investment firm NUO Capital (sponsored by Hong Kong's PAO family office) in supporting financially and strategically the growth of the company.
Artemest's mission is to support small luxury brands, artisans, designers, and artists to gain international visibility and bring their businesses abroad. The platform provides them with a curated marketplace and best-in-class services, such as concierge, logistic support, and marketing activities, to reach customers in over 70 countries in the world.
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"Artemest is constantly growing to become the leading luxury marketplace for contemporary design and the main point of reference for thousands of worldwide clients looking for handmade artistic pieces," says Artemest CEO Marco Credendino. "Tech development and assortment growth will allow our clients to easily find solutions to their needs."
The company will use the capital from the funding to develop digital tools for interior designers, architects, and final consumers globally, and for its suppliers to further enhance their online visibility and digital sales strategy.
"OLMA is delighted to join Artemest. With its dynamic management team, this marketplace embodies tomorrow's luxury and embraces the changes currently transforming the sector," commented Pierre Lainé of OLMA Luxury Holdings, board member of Artemest.
Despite the lockdown due to COVID-19 and the subsequent decrease of orders from hospitality groups, both final consumers and trade business lines have registered triple-digit year-over-year growth. The US, Canada, and the UK represent the leading markets for Artemest, with APAC countries following North America as the second region for revenue and traffic.
"We are honored to continue to support Artemest's management team in this amazing venture and welcome the new investors which can boast strong international footprint and specific know-how," says Tommaso Paoli, CEO of NUO Capital.
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