German recommerce company Momox grows to €150 million
Momox, a popular German recommerce company, generated revenues of 150 million euros last year. The company has shown significant growth in the last couple of years, achieving double-digit growth for the seventh consecutive year. Its sales in 2016 increased with about 27 percent compared to the results in 2015.
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“We have fully achieved our strategic goals in the last fiscal year and our profitability increased in all areas”, CEO Heiner Kroke said. “We were able to accelerate our international growth and we have followed suit especially in the second half year in France”, Kroke adds.
Momox is the largest dealer of used goods on Amazon and eBay in Germany. However, the company also increased the value of its own platforms. Its German-language platform Medimops.de, offering all kinds of media, increased by 60 percent last year, while the French equivalent Momox-shop.fr registered an increase of 470 percent and fashion sale website Ubup.com grew 100 percent.
Fashion as growth driver
For this year, the German recommerce company wants to further expand its business, where books generate most of its revenue, by focusing more on used clothes. The company sees great potential in France and further abroad. The recommerce player is considering expanding its business in another country later this year.
Currently, Momox operates platforms in Germany, France, the United Kingdom and Austria, which are all controled from its head office in Berlin where more than 1,200 employees work.