Mybudapester looks for investor and expands outside Europe
Mybudapester says 2019 was a strong year for the fashion retailer. It achieved an annual turnover of 18 million euros and it opened an office and their own online shop in China. For the current year, the focus is on the search for an investor and the expansion of its presence in Asia and the USA.
In 2017, Mybudapester generated sales worth 10 million euros and two years later, this has almost doubled to 18 million euros. For this year, the German company plans a further increase in turnover of 40 percent.
‘Retail business is slowly but steadily growing’
In China, Mybudapester wants to establish itself as an international retailer for luxury brands. “The website and the local office are in place, the national payment providers are in the portfolio – now the retail business is slowly but steadily growing, also in the USA”, the company explains.
More retailers on the platform
Mybudapester also offers stationary retailers a direct link to its online platform. This year, the plan is to connect a further 40 new stores, who pay the German retailer on a commission basis.