Made.com reveals 34% revenue increase amid flagship opening

987
Made.com
// Made.com releases record results and unveils London flagship showroom
// Total revenue of £173 million went up 37% year-on-year

Made.com has reported record results for 2018, with total revenue of £173 million up 37 per cent year-on-year.

Revenue in the UK hit £100 million for the first time, accounting for 58 per cent of the furniture retailer’s turnover.

The 34 per cent year-on-year increase in UK revenue also built on the 29 per cent increase seen in 2017.

Meanwhile, group sales went up 37 per cent to £173 million.

International revenue climbed by 40 per cent to £73 million after following the successful launch into Spain last October.

Made.com’s chief executive Philippe Chainieux said 2019 will see Europe overtaking the UK as the retailer’s biggest market.

The business currently trades in nine markets across Europe and in 2019 it plans to expand to another four in Portugal, Italy, Denmark and Sweden.

“We had a strong year in 2018, at a time when the retail sector is going through unprecedented change,” Chainieux said.

“Over the past 18 months, we have seen an accelerating trend towards customers shopping online of big ticket items, driven by a massive shift in consumer behaviours and the rise of the digital generation.”

Made.com recently unveiled the upgrade to its flagship showroom in Soho, central London, enlarging the space to over 11,840sq ft.

“For us being a digitally-native brand, online will always come first, but we know a human connection with the brand can be a valuable midpoint in our customer journey,” Made.com chief creative officer Jo Jackson said.

“We are doing something different with our physical spaces. They are not shops, they are brand experiences.

“From being able to touch and feel fabrics, discovering new trends, getting personal style advice, attending a workshop with one of our independent designers, or even playing with new tech we are testing out in the space, these are all steps to build a deeper, and more personalised relationship with our customer.”

Chainieux added: “Made.com’s ambition is to create the leading design brand for the digital generation across Europe.

“The digital ‘millennial’ audience will account for 50 per cent of consumers by 2022 and as such, to succeed it is important to craft an interaction where they are, meeting their expectations and building a design experience around them.”

Click here to sign up to Retail Gazette‘s free daily email newsletter