Online furniture retailer Westwing grows rapidly
Westwing today announced it has grown net revenues to 110 million euros last year. The online furniture retailer is growing rapidly, as this is just its second full year of business. It previously generated net sales of 41 million in 2012 and 0.5 million euros in 2011. So last year it grew nearly three times.
Westwing is an online retailer that sells stylish furniture and homewares to customers worldwide. The Rocket Internet company is active in Germany, France, Spain, Italy, The Netherlands, Russia, Poland, Switzerland, Austria and Brazil, and is headquartered in Munich, Germany. In six of these countries (Germany, Italy, Russia, Spain, Poland and Brazil) Westwing has running its own logicists centers.
The rapid growth in terms of revenue is mainly driven by high customer loyalty, as 75% of monthly sales come from repeat customers. “Westwing has almost tripled sales in the last year. With these results we have become the leading international eCommerce retailer in home & living outside the US and the most exciting movement in this market”, says Stefan Smalla, Founder and CEO of Westwing. “We are passionate to always carry the top interior brands and products, introduce the most exciting trends, and guarantee the best experience for our community of more than 12 million members.”
Last year, the flash-sale shopping club generated more than 1.2 million orders, so it now has sold almost 3 million products during the two years of existence. Consumers are increasingly placing orders using their mobile devices: one in three sales at the websites of Westwing happened via a mobile device. According to Small, Westwing wil further invest into their logistics network and technology platform. “We will massively grow in all markets to extend our number one position. And we will continue to fulfill our mission: to inspire and to make every home a beautiful home.”
Westwing was founded in 2011 and received funding capital from investors like Access Industries, Investment AB Kinnevik, Summit Partners and of course Rocket Internet.