ShowroomPrivé continues its positive growth trajectory, reporting a 4.6% increase in revenue in the first nine months of 2023, reaching €471 million. In Q3, the group achieved a 9.6% surge in sales volume and a 6.2% rise in revenue. While the French market witnessed a 5.9% decline in sales in Q3 due to inflation and evolving consumer preferences, this was offset by a 6.2% increase in international sales. The recent acquisition of The Bradery, a fashion e-tailer, contributed significantly with an 84% revenue boost during the same period.
The resilience of ShowroomPrivé is attributed to its commitment to premiumizing its product range and harnessing various growth drivers. The group reported that in the first nine months of 2023, 12.4 million customers made at least one purchase on ShowroomPrivé, marking a 6.1% increase from the previous year. However, the number of orders placed decreased by 4.7%, with an average value per customer of €172.4. On average, customers placed 3.2 orders during this period.
Anticipating a challenging business environment in the final quarter of the year, the group will focus on closely monitoring inventory levels and prices to address these challenges. In 2022, ShowroomPrivé’s business volume decreased to €939.6 million, down 6% year-on-year, but it was up 9.6% compared to pre-Covid levels. Revenue in 2022 saw a decline of 9.2% to €657.4 million but experienced a 6.8% increase compared to 2019.
ShowroomPrivé’s sustained growth and adaptability to changing market conditions underscore its strength and ability to navigate the challenges of the retail industry, solidifying its position in the e-commerce landscape.
