Who says that you can’t have a consumer facing website in Boston and make money, tons of money?

Boston based CSN Stores has just been ranked the second largest online retailer of housewares and home furnishings in the U.S., exceeding $380 million in 2010 sales. This marks the first time that CSN Stores has passed industry heavyweight Crate & Barrel on the list.

“We’re delighted with this year’s rankings,” said Niraj Shah, CSN Stores’ CEO and Co-Founder. “We chose to invest heavily in our expansion a few years ago, despite the recession. And those investments have really paid off for us. We’ve also hired a very talented group of 750+ people globally to fuel our growth now and in the years to come.”

What’s more impressive is that compared to all online retailers, CSN is ranked No. 51 out of  500, jumping 10 spots from last year. CSN also holds the number 10 spot on the list of retailers that operate solely on the web.

CSN’s growth in 2011 is continuing at an even more rapid rate. Q1 performance is up by more than 56 percent.

“CSN has developed a very unique business model that demonstrates how an online retailing company can successfully grow in numerous niches,” said Mark Brohan, vice president of research for Internet Retailer and editor of the Top 500 Guide. “Their growth in the Top 500 rankings is a testament to their market staying power.”

Earlier this year we caught wind of a re-branding effort from CSN Stores. In a company wide announcement back in April, CSN Stores alluded that the company will be known as WayFair in the coming months. As of today WayFair.com still displays a a “Coming Soon!” message, and it is unknown as to when this re-branding will occur.