In the world of high-end outdoor furniture, where style meets durability, and comfort blends seamlessly with innovation, one brand has managed to stand out from the rest – Outer Furniture.
As we delve into the fascinating realm of Outer Furniture’s remarkable success story, we are introduced to the driving forces behind the soaring net worth of Outer Furniture’s dynamic duo of Jiake Liu and Terry Lin.
With their vision, dedication, and passion for redefining outdoor living, Liu and Lin have elevated Outer Furniture to a new level of prominence in the industry.
Together, they’ve brought a fresh perspective to the way we enjoy our outdoor spaces, all while achieving remarkable financial success.
Join us as we explore the captivating journey of these two entrepreneurs and their incredible impact on the world of luxury outdoor living.
|Company Name||Outer Furniture|
|Owners||Jiake Liu and Terry Lin|
|Royalty||Up to $1 million|
|Net worth||$100 million|
Why Outer Furniture?
That’s a question at the heart of the brand’s extraordinary journey to success. The answer lies in a perfect fusion of innovative design, unwavering commitment to quality, and a profound understanding of what outdoor living truly means.
Innovation Meets Comfort
Outer Furniture is not merely about creating stylish pieces, but about enhancing the way we experience the outdoors.
Jiake Liu and Terry Lin recognized that outdoor furniture should not be limited to just aesthetics; it should also provide a comfortable and inviting environment.
They introduced features like OuterSoft™ cushions, designed for relaxation, and OuterShell™ covers, which protect furniture from the elements.
This emphasis on innovation and comfort sets Outer Furniture apart.
When investing in high-end outdoor furniture, durability is paramount. Outer Furniture knows that outdoor spaces are exposed to sun, rain, and other weather elements.
That’s why they’ve focused on materials and construction techniques that ensure longevity.
Their use of premium materials like all-weather wicker and rust-resistant aluminum frames means your furniture remains not only stunning but also functional for years to come.
A Sustainable Touch
The visionaries behind Outer Furniture are acutely aware of the environmental impact of their industry.
They’ve taken steps to ensure sustainability is at the core of their business.
With practices like recyclable packaging, water-based finishes, and a commitment to reducing waste, they’re leading the way in responsible manufacturing.
Outer Furniture goes beyond selling products; they aim to enrich the lives of their customers.
Their customer-centric approach includes free design consultations to help customers make the most of their outdoor spaces.
This dedication to their client’s satisfaction has garnered a loyal following.
Revolutionizing the Buying Experience
Jiake Liu and Terry Lin set out to transform not only the products but also the way outdoor furniture is sold.
They introduced the Neighborhood Showroom concept, where customers can experience Outer Furniture in real outdoor settings before making a purchase.
This innovative approach has redefined the entire shopping experience.
Outer Furniture Pitch on Shark Tank
In the thrilling entrepreneurial arena of Shark Tank, it was a chilly evening in late 2019 when Terry and Jiake stepped onto the iconic stage.
With sparks of innovation in their eyes, they unveiled their audacious plan to revolutionize the furniture industry, not just in terms of design but also in how it’s marketed.
The pitch was nothing short of groundbreaking: $750,000 for a mere 4% stake in their startup, Outer Furniture. The Sharks were instantly hooked, drawn by the promise of transforming outdoor comfort and style.
However, the waters in the tank were choppy. The Sharks, as savvy investors, questioned whether this ambitious valuation was justified. But as the tension mounted, two formidable Sharks, Kevin O’Leary and Lori Greiner, saw an opportunity too compelling to pass up.
Kevin, known for his sharp business acumen, took a bold plunge, offering $750,000 for a 20% stake, seeking a more significant slice of the Outer pie. However, this daring move was met with a resolute “No” from the founders, who believed their vision was worth more.
Lori, the Queen of QVC, countered with a series of shrewd proposals, determined to strike a mutually beneficial deal. After some riveting back-and-forth negotiations, a game-changing arrangement emerged. Lori agreed to invest $750,000 for a 5% equity stake, alongside a tantalizing $30 per unit royalty.
The proposition hung in the air for a heartbeat, as Terry and Jiake contemplated the weight of Lori’s offer. And then, in a defining moment, they decided to accept.
With a handshake sealing the deal, the partnership was forged, paving the way for Outer Furniture to embark on its remarkable journey towards transforming outdoor living spaces around the nation.
Outer After Latest Update 2023
As Outer Furniture set its sights on becoming the ultimate destination for premium patio furniture, the entry of Lori Greiner, with her wealth of experience in the business-to-consumer realm, sent ripples of anticipation through the industry.
The prospect of this dynamic partnership added a new layer of excitement to Outer’s journey, although, as whispers suggest, the ink on the deal had not quite dried yet.
But that’s just the tip of the iceberg in the Outer saga. In 2021, they orchestrated a financial symphony that hit all the right notes. Their Series A funding round brought in a whopping $10.5 million, spearheaded by the heavyweight investor, Sequoia Capital China. But they weren’t done there.
Later that same year, their Series B round struck a chord, raising an astounding $50 million with backing from Tribe Capital, Capital Today, Upfront Ventures, and C Ventures.
What truly sets Outer apart is its audacious approach to the furniture business. Their fresh perspective has earned them a spotlight in prestigious publications like Forbes and GQ Entrepreneur.
As they continue to thrive in the cutthroat world of outdoor furniture, Outer’s financial success has been nothing short of extraordinary, with recent sales ringing in at an impressive $45 million.
But it doesn’t stop there. With a whopping 500 showrooms scattered across the United States, Outer Furniture has become a household name.
Their meteoric rise in a fiercely competitive space has catapulted their valuation to a staggering $100 million. Outer isn’t just selling furniture; it’s shaping the way we experience the great outdoors.
Conclusion: The journey of Outer Furniture from its inception to its current net worth of $100 million is a testament to the power of vision, innovation, and an unwavering commitment to quality. Jiake Liu and Terry Lin, the dynamic duo behind the brand, have not only redefined outdoor living but also elevated it to new heights.
Their dedication to fusing innovation with comfort has reshaped the way we perceive outdoor furniture. With features like OuterSoft™ cushions and OuterShell™ covers, they’ve turned outdoor spaces into havens of relaxation, while ensuring durability in the face of the elements with premium materials.
Beyond their financial success, the founders have been conscientious about the environment, incorporating sustainable practices into their business. Outer Furniture’s commitment to responsible manufacturing, including recyclable packaging and water-based finishes, sets a remarkable example in the industry.
But it’s not just about the products; it’s about the people they serve. Outer Furniture’s customer-centric approach, offering free design consultations, has created a devoted community of outdoor enthusiasts who have embraced the brand’s vision.
As Outer Furniture continues to thrive and expand, their remarkable net worth reflects not just financial growth, but the genuine impact they’ve had on the world of luxury outdoor living. With a strong foundation built on innovation, sustainability, and customer satisfaction, the future for Outer Furniture promises to be as exciting and inspiring as its journey to this point.