CITY Furniture announces equity stake in Palm Beach County-based PeakActivity
Read Time 3 MinutesBroward-based CITY Furniture, a family-owned American furniture and mattress retailer, fine upholstery manufacturer, and one of America’s Top 20 furniture retailers, announced it has recently taken an equity stake in PeakActivity, a digital acceleration and technology services company based in Palm Beach county that enables progress for businesses at every point of their digital journey through modernization, optimization, innovation, and engineering services.
As long-time partners, CITY’s equity stake, which represents a minority position, is a win-win for both parties. For CITY, this investment solidifies their position as a pioneer in Home Tech, integrating technology into everything they do. PeakActivity will use this investment to accelerate their overall growth and fund further innovation in the home furnishings category.
With shared goals and shared financial outcomes, the partnership between the companies will be strengthened to a level they have not had previously and is a testament to the quality of the work they have done together over the past five years.
“CITY is working hard to build a world class organization that is best in class in technology. The future of the home industry and all industries hinge on technology and innovation,” said Andrew Koenig, CEO of CITY. “Our partnership with PeakActivity is more important now than it has ever been. We are convinced that taking a position in PeakActivity will accelerate our technological advantages in the market and result in a better customer and associate experience overall.”
CITY Furniture operates over twenty-two showrooms from Miami through Vero Beach, and in Southwest and Central Florida, as well as fourteen Ashley Home Store showrooms as the brand’s Southeast and Southwest Florida licensee. The company is one of the country’s top furniture retailers and continuing to grow.
As technology becomes more and more fundamental to everyday business and everyday living, CITY looks to embrace it and actively learn about the opportunities that tech provides businesses. CITY looks to be a driving force in taking the home furnishing world from “old school” to “industry cool” by investing in their long-time tech partner, PeakActivity.
As part of its investment, CITY looks forward to their ability to share knowledge, ideas, and strategies, while leveraging both companies skilled tech teams to work on some of the best home projects in the industry. Given their long-standing client-agency relationship, the companies are already working on several projects together in the areas of ecommerce, AR Design, CITY Moves, and more, that will continue to grow and expand as their relationship advances in the months and years to come.
“CITY has been one of our longest standing and best clients, driving us to innovate, to think, and work both faster and better,” said Manish B. Hirapara, CEO of PeakActivity.
“With this investment, our relationship becomes even more significant and is unlike that of any other client relationship we have. I expect that we continue to grow together and thrive together in the future. We are stronger than we’ve ever been before now as true partners.”
PeakActivity is a digital strategy and implementation company, partnering with businesses to accelerate their growth through eCommerce, Digital Marketing, and Technology solutions. By leveraging its unique methodology of Dream, Deliver, Elevate, PeakActivity simultaneously focuses on short-term wins with a constant eye towards longer-term innovation and business growth.
This relationship with PeakActivity just further reinforces CITY’s long-time commitment to being tech forward for both their internal stakeholders and external stakeholders. For CITY, seamless technology integration is just as important to a customer looking to furnish their living room in Miami, as it is to a warehouse worker in Orlando and a corporate employee in Tampa. Over the years, the company has enjoyed significant success building out their own tech department, making all of areas of the company better, faster, easier, and safer, while building out teams for e-commerce, data analytics and cybersecurity.
With tech at the forefront of CITY’s business strategy from the start, this relationship is an investment in the success of CITY’s tech-focused future and a step towards achieving their long-term goals.
