French online retailer Showroomprive's Q1 FY21 sales up 51% to €178 mn

Showroomprive (SRP Group), a French online retailer specialising in fashion and beauty, has reported 51 per cent sales growth to €178.4 million in its first quarter (Q1) fiscal 2021 ended on March 31, 2021 compared to the sales of €118.2 million in the same period previous fiscal. The group’s internet revenues rose 53.7 per cent to €176.5 million.

 

“2021 began in promising fashion and confirmed that we are on the right path with our strategic moves. While we may have benefited from a favourable comparison base over the quarter, the key factor was our ability to capitalise on the hard work of recent months that allowed us to build up our offer of premium brands and fully cater to the expectations of our ever-expanding customer base,” Thierry Petit and David Dayan, Showroomprivé co-founders and co-CEOs, said in a press release.

 

Online revenues in France for Q1 FY21 jumped 51.8 per cent to €147 million. Whereas international revenues (except France) were up 64.1 per cent to €29.5 million.

 

“We attracted many new members, more than 620,000 in this first quarter, and achieved particularly a high transformation rate in a still favourable environment. We are capturing market share and all operational indicators are positive, including those on the profitability plan as business volumes posted amply covered fixed costs in the first quarter. Showroomprivé should continue to reap the rewards of its operational optimisation and confirm its profitable growth trajectory,” Petit and Dayan concluded.