on SHOWROOMPRIVE (EPA:SRP)
Showroomprivé Reports Slight Decline in Revenue for the First Nine Months of 2024
Showroomprivé recorded a minor decline in Gross Merchandise Value (GMV) by 0.7% to €703 million for the first nine months of 2024. The company's sales also dropped by 5.1% compared to the same period in 2023. Despite a challenging economic environment, the company's international business grew by 11%, and its marketplace saw a 57% increase in GMV, notably with its launch in Belgium.
Showroomprivé's ACE plan has shown its first signs of success, with 49% of sales now from premium brands. However, the third quarter was impacted by a summer slowdown in consumer spending. The company identified a link between renowned brands and increased visitor numbers, confirming the effectiveness of its premiumization strategy.
The company aims to continue implementing logistics improvements and enhance its premium offerings in the final quarter of the year.
R. P.
Copyright © 2024 FinanzWire, all reproduction and representation rights reserved.
Disclaimer: although drawn from the best sources, the information and analyzes disseminated by FinanzWire are provided for informational purposes only and in no way constitute an incentive to take a position on the financial markets.
Click here to consult the press release on which this article is based
See all SHOWROOMPRIVE news