Showroomprivé achieves positive GMV and revenues growth in 2023

In 2023, Showroomprivé achieved a gross merchandise volume (GMV) of one billion euros, representing a 6.3 percent increase compared to the previous fiscal year.

The company said, revenue amounted to 677.7 million euros, up by 3 percent compared to 2022, despite economic deterioration in the latter part of the year affecting second-half activity, which was down 3 percent, particularly in the third quarter.

Commenting on the financial results, David Dayan, chief executive officer of Showroomprivé, said: "While the persistent market challenges in 2023 weighed on our core business and slowed revenue growth, it also demonstrated the strength of our business model and growth drivers. These met our expectations and enabled us to achieve another year of increased sales and profitability."

Showroomprivé added that The Bradery, consolidated for the first time for a full year, achieved a significant sales increase of 76 percent and strengthened its portfolio with sought-after brands. The Marketplace saw an increase of 85 percent in gross merchandise volume compared to last year.

SRP Services, despite a challenging environment, achieved 15 percent growth and The Travel and Leisure segment reported an increase by 12 percent. The International segment progressed by nearly 10 percent, generating a positive EBITDA, with all European markets showing strong growth.

In its traditional flash sales market, Showroomprivé, witnessed some segments outperform, such as the Sports & Lifestyle segment, up 66 percent, while the Home & Decor segment decreased 26 percent. The Fashion segment performs better than the apparel e-commerce market in France, which declined by 5 percent. Finally, Beauté privée posted a decrease in revenue of approximately 6 percent.

The company further said that as a result of the premiumization of the product mix and strict control over purchasing prices, gross margin increased by 14.1 million euros over the year to 38.2 percent, EBITDA reached 23.6 million euros, a 21 percent increase compared to 2022, corresponding to a 52 basis point increase in margin to reach 3.5 percent.