Online furniture store Home24 expands to Italy
Online furniture store Home24 will launch a shop in Italy. This marks the seventh shop in Europe and is already the third one this year. Together with this expansion news, Home24 also presented its half-year figures for the first half of 2014. Things look well for the online furniture shop.
After launching a Home24 store in Switzerland at the beginning of the year and another in Belgium since August, it’s now time Italian customers are able to shop online at the furniture store. The delivery and return of products are for free.
The Italian furniture market is said to be the second to highest in volume within Europe, but thus far the majority of revenue is generated throughout stationary markets. But as the ecommerce industry in Italy is probably going to grow by 19% in 2014, there are opportunities for an online-only player like Home24.
Italy important furniture industry in Europe
“Italy is one of the most important countries in the European furniture industry. We are currently already working with a variety of Italian manufacturers and will expand this collaboration even further with our launch in Italy. Furniture and Italy clearly belong together”, says Domenico Cipolla, CEO at Home24. “Nevertheless, we currently do not see any comparable shop to Home24, in Italy. The Italian furniture market is enormous and Italians continue to order more online – we therefore see huge potential in this country.”
37% more orders
During the first half of the year, Home24’s net revenue reached 59 million euros, which is the same as two-thirds of the company’s total net revenue of 2013. The gross merchandise volume grew by 43% to 69 million euros and the number of orders totaled 0.4 million, which is a growth of 37% compared to the same period last year.
Home24 was founded in 2009 in Germany and now operates in seven European markets: Germany, France, Netherlands, Austria, Switzerland, Belgium, and Italy. It offers more than 150,000 products from over 800 manufacturers.