Showroomprivé records Q1 revenue growth of 12.3 percent

In the first quarter of 2023, the Showroomprivé Group recorded revenue of 155.7 million euros, up 12.3 percent.

The company said in a statement that acquisition of The Bradery continues to bear fruit, contributing to an incremental growth of 5.4 percentage points on top of the group’s organic growth of 6.9 percent. Its sales grew by more than 33 percent.

The company’s international business grew at a slightly higher rate than in France, recording 17 percent growth. Travel & leisure segment continued to grow its GMV by 27 percent. The marketplace GMV rose by 38 percent and SRP services posted 28 percent.

The group expects business to continue to recover over the next few quarters, despite sustained limited visibility due to the economic environment.

Commenting on the trading in the first quarter, David Dayan, chairman and CEO of Showroomprivé, said: "In the first quarter of the year, Showroomprivé confirmed its ability to return to sustainable growth, in line with our ambition. We have been able to take advantage of a more stable environment thanks to the diversity and strength of our growth drivers, whether it be our B2C offerings (marketplace, travel & leisure segment) or our B2B offerings with SRP Services. The Bradery also achieved a good commercial performance.”

The company’s Internet sales in France amounted to 124.3 million euros, up 10.1 percent. The company added that the fashion segment recorded a strong increase in its activity, benefiting from the increase in brand’s inventories after the difficult conditions of the late for physical retail. Beauté Privée recorded sales down 4.8 percent, but is showing first signs of operational improvement.

Revenues from other activities (physical wholesale destocking of unsold goods or Internet returns) amounted to 3.6 million euros, a slight increase in absolute terms.