ShowroomPrivé grows revenue by 4.6% in first nine months of 2023
Nicola Mira
The ShowroomPrivé group has reported that in Q3 it recorded a 9.6% rise in sales volume, and a 6.2% increase in revenue. In the first nine months of the year, revenue was up 4.6% over the same period the previous year, to €471 million, while the group’s sales volume rose by 8.7% to reach €705.8 million. Recently acquired fashion e-tailer The Bradery posted an 84% revenue rise in the same period.
Inflation and consumer choices had a negative impact on the group’s core market, France, in Q3. Sales in the country fell by 5.9%, down to €109.5 million.
This downturn was however offset by a 6.2% increase in international sales, to €28 million, as well as by the strong performances of the travel & leisure division (up by 28%), the group’s marketplace business (up by 112%), and the SRP Media brand services division (up by 28%).
“At the end of the first nine months of fiscal 2023, Showroomprivé has confirmed its business model’s strong resilience, in a context where consumption is still impacted by various exogenous shocks,” said David Dayan
Excluding Beauté Privée and The Bradery, 12.4 million customers made at least one purchase on ShowroomPrivé in the first nine months of 2023, up 6.1% on an annual basis. In the same period, customers placed a total of 7.5 million orders, down 4.7%, for an average value per customer of €172.4. Customers placed 3.2 orders on average in the period (down by 3.8%), with an average basket of €54 (up by 4.2%).
“The successful incorporation of The Bradery has expanded the group’s growth potential, and the Millennial-oriented fashion e-tailer recorded sustained sales in the first nine months of the year, posting 84% growth,” said ShowroomPrivé.
For the year’s last quarter, the group is anticipating that “the [business] environment will remain tough,” and will seek to obviate this by keeping a close eye on inventory levels and prices.
In 2022, ShowroomPrivé’s business volume fell to €939.6 million, down 6% year-on-year, though it was up 9.6% compared to pre-Covid levels
