French event sales website ShowroomPrivé has reported impressive financial results for the first quarter of 2021, achieving a 51% increase in net revenue, amounting to €178.4 million. This significant growth can be attributed to the strategic reorganization that the company underwent during the corresponding period in 2020.

The success of ShowroomPrivé’s online sales in France played a major role in driving this revenue growth, with sales totaling €147 million, representing a 51.8% increase. The company’s implementation of a robust media strategy and the launch of a new online marketplace have proven to be instrumental in its performance. The online marketplace is expected to contribute significantly to ShowroomPrivé’s future growth.

Furthermore, online sales outside of France contributed €29.5 million to ShowroomPrivé’s revenue, reflecting a remarkable growth rate of 64.1%. This exceptional growth can mainly be attributed to the success of the Saldi Privati site, demonstrating the company’s expanding presence in international markets.

During the first quarter, ShowroomPrivé made continued progress in transitioning its business model to focus on drop shipping. This allows orders to be fulfilled directly through partner brands’ inventory. Drop shipping accounted for 25% of the company’s sales during this period, reflecting a four-point increase. Additionally, ShowroomPrivé took advantage of unique opportunities to purchase product stock directly from its partner brands.

The positive financial results have delighted the co-founders of ShowroomPrivé, Thierry Petit and David Dayan. They expressed their satisfaction with the company’s expansion of its premium brand offerings and its ability to meet the increasing demands of its growing customer base. Moreover, ShowroomPrivé was successful in attracting over 620,000 new members during the first quarter, with a high conversion rate.

Petit and Dayan emphasized that ShowroomPrivé is gaining market share, with all operational indicators demonstrating positive results, including profitability. The company’s strong activity levels enabled it to absorb fixed costs during the first quarter. They predict that ShowroomPrivé will continue benefiting from operational optimization, ensuring sustained profitable growth.

In terms of customer behavior, ShowroomPrivé reported an average purchase basket of €44.7, representing a significant 13.9% increase compared to the previous year. Furthermore, the average number of purchases per customer rose from 2.2 to 2.4, while the total number of orders increased by 35.8% to reach 3.6 million.

Overall, the remarkable revenue growth experienced by ShowroomPrivé in the first quarter of 2021 emphasizes the success of its strategic reorganization and the effectiveness of its media strategy and online marketplace. The company’s transition to drop shipping and its ability to capitalize on unique purchasing opportunities have significantly contributed to its impressive financial performance. With a growing customer base, positive operational indicators, and strong profitability, ShowroomPrivé is well-positioned for continued growth and success.

Useful Links:
1. ShowroomPrivé Official Website
2. ShowroomPrivé Italian Website