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~Acquisitions & Growth: "WAYFAIR makes its first major *Acquisition*, buying New York City-based DwellStudio as part of a plan to launch proprietary product lines this year.

Terms of the acquisition weren't disclosed.

DwellStudio, a catalog and e-commerce lifestyle retailer founded in 1999, is known for its modern home furnishings and its expertise in upholstery, furniture and textiles, Wayfair said in a news release.

DwellStudio sells products at its own retail stores — its flagship store is located at 77 Wooster St. in SoHo — and at more than 800 retail stores, including Neiman Marcus and Nordstrom.

DwellStudio will operate as a standalone brand under the Wayfair.com umbrella, joining Joss & Main and AllModern.com, the company said.

Acquiring DwellStudio is the first step in Wayfair's plan to launch proprietary product lines and lifestyle brands in 2013, a spokesperson said in an email.

The acquisition follows Wayfair's best quarter ever for revenue, in which sales were up 46 percent year over year, the spokesperson said (specific dollar figures weren't disclosed).

The company has said its 2012 sales overall surpassed $600 million, up from $500 million in 2011.

The company raised $36.3 million in December to accelerate growth at Joss & Main, adding to the firm's previous $165 million funding in June 2011. Investors in the company are Battery Ventures, Great Hill Partners, HarbourVest Partners and Spark Capital.

Some have pointed to Wayfair as an IPO candidate for this year, but CEO and co-founder Niraj Shah has said there are no immediate plans in 2013 for taking the company public — though that remains a goal for the future. He and CTO Steve Conine co-founded the company in 2002, and it now employs more than 800 in Boston.

Read more: Wayfair to expand HQ in move to Copley Place