Wednesday, September 30, 2020

ManoMano takes aim at Kingfisher amid successful first year in UK


DIY marketplace ManoMano has hailed the success of its first year of trading in the UK, proving a thorn in the side of established retailers.

Since launching in April last year, it has partnered with over 100 local DIY merchants, seeing 185,000 products enter its listings.

In the UK, total revenues for the year hit £4.4 million, with the international group seeing sales volumes of over £214 million and over one million listings.

After its creation just three years ago, the pure-play retailer has already begun to disrupt big players, with Kingfisher‘s Véronique Laury citing it as one of the reasons for lacklustre trading in France last month.

READ MORE: Kingfisher chairman departs amid successful turnaround results

The UK is the second-largest home improvement and gardening market, worth over £38 billion a year.

ManoMano has laid out ambitious plans to triple its product offering and reach a turnover of £10 million by the end of 2017, projecting a £85 million turnover by 2019.

“To disrupt such a competitive market like the UK and build a community for the long term, you need to stand out by the quality of your offer, not just by the quantity of products available or the low prices advertised on the website,” ManoMano co-founder Philippe de Chanville said.

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