ShowroomPrivé, the e-commerce platform, faced a significant decrease in sales during the first quarter of this year. Revenues dropped by 22% to €138.9 million, a stark contrast to the impressive 51% increase seen during the same period last year. Despite this decline, the company remains optimistic about its prospects for the rest of the year and anticipates a rebound.

While overall sales experienced a decline, ShowroomPrivé did observe some positive trends during the January-March period. The company reported a turnover of €203.6 million and an 11.5% increase in average shopping baskets, which reached €49.8. This growth can be attributed to the recovery in the travel and tourism sector. However, sales were negatively impacted by slowdowns in other markets, such as fashion and household appliances, due to inventory shortages, reducing the need for destocking from partner brands.

Another factor affecting ShowroomPrivé’s sales was the migration of the Beauté Privée platform, which is expected to continue impacting this segment. On the other hand, the company’s marketplace activity contributed to higher shopping baskets compared to other sales models.

CEO David Dayan acknowledged the decline in activity and attributed it to the challenging market environment. ShowroomPrivé has been significantly impacted by uncertainties surrounding inventories and disruptions in the supply chain in certain markets. However, Dayan expressed optimism for the second quarter of 2022, expecting improvements in inventory availability and anticipating a positive trend throughout the second half of the year.

To expand its product offering, ShowroomPrivé recently acquired The Bradery, an online sales platform. This acquisition aims to diversify the company’s offerings and attract a broader customer base. ShowroomPrivé currently boasts 1.2 million buyers, including one million loyal customers who have made purchases within the past two years.

Despite the challenges faced, ShowroomPrivé still achieved growth in 2021. The company reported a 3.8% increase in revenue, reaching €723.8 million. Turnover also experienced modest growth of 3.1%, amounting to €922 million. EBITDA (earnings before interest, taxes, depreciation, and amortization) increased to €48.2 million, compared to €42 million in 2020. This return to profitability can be attributed to the surge in online sales driven by pandemic-related confinements.

Overall, ShowroomPrivé remains hopeful for the future, with expectations of a rebound and regained momentum in the coming months. The company will continue to focus on improving inventory availability and expanding its product offerings to cater to its diverse customer base.

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