French online retailer Showroomprive's FY20 sales up 13% to €697 mn

26 Mar '21

2 min read

Pic: Showroomprivé

Showroomprive (SRP Group), a French online retailer specialising in fashion for the digital woman, has reported 13.3 per cent sales growth to €697.5 million in its fiscal 2020 ended on December 31, 2020 compared to the sales of €615.6 million in the previous fiscal. The group’s internet revenues rose 14.1 per cent to €688.0 million (FY19: €603.1 million).

“First of all, we were able to take advantage of the transition towards online consumption due to the health crisis through the intense work undertaken on our offering over the last several quarters, renewing it and increasing its appeal with new premium brands,” Thierry Petit and David Dayan, Showroomprivé co-founders and co-CEOs, said in a press release.

Gross margin for the year was €273.0 million (€187.5 million), while operating expenses reported a loss of €247.6 million (€234.3 million). The group’s EBITDA jumped to €42.0 million (loss: €31.4 million).

Internet revenues in France for FY20 jumped 15.4 per cent to €581.7 million (€504.1 million) due to excellent momentum in the core business internet sales and the ramp-up of growth drivers such as SRP Media. Whereas international revenues were up 7.5 per cent to €106.4 million (€99.0 million).

“Our ambition in 2021 will be to maintain this trajectory, both in terms of business volumes and profitability, by continuing to leverage our unique assets, our platform, our member base, an offering comprising over 3,000 brands and a renowned customer service. Our investments in the development of our growth drivers such as SRP Media and the Marketplace will further fuel the increase in turnover for this new financial year,” Petit and Dayan said.

Fibre2Fashion News Desk (JL)

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