Online homewares retailer, Wayfair, has sold its Australian assets to Temple & Webster, in order to focus on North America and Europe.

The Wayfair website will continue to operate under the Wayfair name for 45 days and then will be relaunched under a new brand name from Temple & Webster. Terms of the transaction were not disclosed.

“As we continue to rapidly scale our business in North America and Europe, we are strategically focusing our resources on those two very large markets,” said Niraj Shah, CEO and co-founder of Wayfair.

“We are confident that the transition of our Australian business will serve our existing Australian-based customers and employees well. Temple & Webster shares our commitment to technological innovation and outstanding customer experience in home retail and has a great track record in the Australian marketplace.”

Temple & Webster CEO and co-founder, Brian Shanahan, said the acquisition is a natural next step to continue the company’s rapid growth.

“It’s an exciting opportunity for the progression of both businesses in the Australian furniture and homewares market,” he said.

“The combination of Temple & Webster’s strong brand identity and unique ability to inspire its loyal member-base, through beautifully curated and presented products, and high quality editorial alongside Wayfair’s broad product offering, world-class technology platforms and exceptional speed of delivery, will provide an unparalleled online shopping experience for every Australian.”