BRIEF

on Westwing Group AG (isin : DE000A2N4H07)

Westwing Expands to Portugal

Munich-based Westwing, a leading European e-commerce company for home and living, has announced its expansion into Portugal as of May 22. With a revenue of €429 million in 2023, Westwing enters its 12th European market, marking its first new market expansion since 2014. This move is part of the company's strategy to leverage its successful business model across Europe and the first market to use its new software-as-a-service technology platform.

Westwing's CEO, Andreas Hoerning, emphasized the company's goal to inspire and excite Portuguese homes, aiming to become Europe's leading premium destination for home and living products. Portugal's home and living market is valued at approximately €2.2 billion, with only 25% of purchases currently made online, a figure expected to rise to 48% by 2028.

The company plans to enhance its brand experience by listening to Portuguese customers and including selected local brands in its portfolio of about 200 premium design brands. The expansion underscores Westwing’s commitment to a customer-centric approach and unparalleled design expertise, aiming to inspire homes across Europe.

R. H.

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 Westwing Group AG news