Showroomprivé posts Q3 revenue increase of 7.5 percent

Showroomprivé (SRP Group) reported third quarter net revenue growth of 7.5 percent driven by better-than-expected activity in July and August, despite a drop in e-commerce traffic compared to the same period in 2021.

Revenues for the nine-month period were down 13.9 percent compared to 2021, but up 5.4 percent compared to 2019.

Commenting on the third quarter figures, David Dayan, co-founder, chairman and CEO of Showroomprivé, said: “The significant business growth in the third quarter is a testimony of the relevance of the group’s business model in a challenging market environment."

"Despite the modest upswing during the third quarter, the current volatility of the market is set to persist throughout the remainder of the year. In this context, we still cannot provide net revenue nor profitability targets for the full year 2022,” Dayan added.

The company saw positive performance across all segments, notably in travel & ticketing, where sales grew by 36 percent in the third quarter. The company said performance from Beauté Privée was satisfactory. The average basket size rose 7.3 percent.

Following the internal appointments of two deputy managing directors in mid-September, Showroomprivé has strengthened its management team by recruiting new profiles to fill key positions such as human resources director, chief marketing officer, general manager of Beauté Privée, general counsel, and director of external Relations and ESG.