Germany has most fast-growing ecommerce companies
In the FT 1000-ranking of fastest-growing European companies, 95 are ecommerce businesses. The vast majority of these companies is from Germany, such as WLDOHO and KoRo. Italy (24) and France (12) are also well-represented.
The FT 1000 is an annual ranking of the fastest-growing companies in Europe. Only this week, the Financial Times and Statista released the seventh edition of the FT 1000. The ranking is based on revenue growth between 2018 and 2021.
Germany, France and Italy most ranked
The list includes 95 companies in the ecommerce industry. The majority of fast-growing ecommerce businesses are from Germany, namely 41 companies. Among them are razor brand WLDOHO (no. 56) and food retailer KoRo (no. 70).
The ranking includes 95 ecommerce companies.
Italy is listed with 24 businesses, later followed by France (12), the United Kingdom (7) and the Netherlands (4). Poland, Spain, Lithuania and the Czech Republic are also represented with up to 3 companies.
Although the most ranked companies are from Germany, the Netherlands dominates the top-5 of ecommerce. Among the frontrunners are British marketplace Onbuy, Dutch return service Returninsta and Italian fashion retailer Baroni.
1. Onbuy, United Kingdom (no. 25)
2. Returninsta, the Netherlands (no. 29)
3. Stoov Heating Cushions, the Netherlands (no. 36)
4. Baroni, Italy (no. 40)
5. Matt Sleeps, the Netherlands (no. 41)
Ranking impacted by pandemic
Because the ranking is based on revenue growth in the three years to 2021, it is severely impacted by Covid-19 restrictions, the Financial Times writes. With regards to ecommerce, “lockdowns were a boon to business”. This is in stark contrast with today, the ranking writes: “As Russia’s war in Ukraine continues and countries across Europe face a threat of economic recession, these drags on growth [lower venture capital-investment] are set to increase.”