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Showroomprivé reports 50.9 percent sales growth

Business

Showroomprivé reports 50.9 percent sales growth

By Prachi Singh

29 Apr 2021

Group net revenues at Showroomprivé were up 50.9 percent to 178.4 million euros for the first quarter of 2021, while internet revenues grew 53.7 percent to 176.5 million dollars, with strong growth recorded for nearly all sales sectors.

The company said, online sales in France were 147 million euros, up 51.8 percent over the period, while worldwide revenues grew 64.1 percent to 29.5 million euros, boosted by a broader offer and a return to revenue generation at Saldi Privati. Revenues from other activities including physical clearance of unsold inventory and online returns amounted to 1.8 million euros.

Commenting on the first quarter results, Showroomprivé co-founders and co-CEOs Thierry Petit and David Dayan said in a statement: “While we may have benefited from a favourable comparison base over the quarter, the key factor was our ability to capitalise on the hard work of recent months that allowed us to build up our offer of premium brands and fully cater to the expectations of our ever-expanding customer base.”

The company witnessed an increase of 0.2 million cumulative buyers since January 1, 2021 due to the success of its marketing campaigns. The company said, ongoing high level of new member acquisitions, coupled with continuous development of the repeat customer base drove a 26 percent rise in the number of buyers over the period and broadening out the offer to include new premium brands continued to drive up the average basket to 44.7 euros and orders per buyer rose 7.8 percent, resulting in revenue per buyer of 106.6 euros in the first quarter, an increase of 22.8 percent year-on-year.