MakeSpace CEO: Millennials' Obsession with Minimalism Won't Make Storage Obsolete

March 20, 2019
Updated 1mo ago

By Chloe Aiello

MakeSpace CEO Rahul Gandhi isn't worried that the popularity of minimalism, like the kind peddled by Marie Kondo, will make his storage business obsolete. And while people may be downgrading the number of possessions they own, they're upgrading the attachment to their stuff, Gandhi said.

"What we are really seeing is people have a bigger emotional attachment to their stuff. So they may not have as much, but they really care about what they have," he told Cheddar.

MakeSpace offers a suite of services that bring storage into the digital age. The company offers pick up and delivery services, as well as an online photo inventory to better keep tabs on items stored.

To scale those services to more regions of the country, MakeSpace just announced a strategic deal with Iron Mountain, a storage and information management company. Iron Mountain will join a $30 million investment round in MakeSpace, and in exchange, MakeSpace will acquire Stashable, a valet storage service, and become a customer of Iron Mountain's, which will give it access to even more storage space. The deal promises to bring consumer storage services to 24 markets ー MakeSpace was previously in four.

"Overnight, this is a national-scale business," he said. "Now you can see the scalability of this model ... we are taking advantage of an existing system and a footprint that can deliver that service at a large scale."

As the business expands, Gandhi isn't worried about losing customers to possession purging. One reason is that people are still moving to cities, if not at quite at the same breakneck pace as earlier in the decade, according to CityLab.

"We have more and more people moving into cities, we've got space that continues to get tighter, and people still have things that they want," Gandhi said.

For full interview click here.