MADE.COM releases record results and unveils flagship showroom
MADE.COM has reported record results for 2018, with revenue up 37 per cent. The company has also unveiled the expansion of its flagship showroom in Soho, London, which has tripled in size and now houses a host of new technology. Results released today show total revenue of £173m for 2018, up 37 per cent year-on-year. Revenue in the UK hit £100m for the first time, accounting for 58 per cent of turnover. The 34 per cent increase in UK revenue year-on-year shows the business is accelerating in its most mature market, building on the 29 per cent increase seen in 2017. International revenue increased by 40 per cent, at £73m and following the successful launch into Spain last October, Philippe Chainieux, MADE.COM CEO, says 2019 will see Europe overtaking the UK as the brand’s biggest market. The brand currently is present in nine markets across Europe and in 2019 will launch a further four territories (Portugal, Italy, Denmark and Sweden).
Philippe Chainieux, CEO of MADE.COM, says: “We had a strong year in 2018, at a time when the retail sector is going through unprecedented change. Over the past 18 months, we have seen an accelerating trend towards customers shopping online of big ticket items, driven by a massive shift in consumer behaviors and the rise of the digital generation”. MADE.COM unveils the upgrade to its flagship showroom in London, trebling the space to more than 1,100 square meters, redefining the experience MADE.COM delivers to its customer.
Jo Jackson, chief creative officer of MADE.COM commented; “For us being a digitally-native brand, online will always come first, but we know a human connection with the brand can be a valuable midpoint in our customer journey. We are doing something different with our physical spaces. They are not shops, they are brand experiences. From being able to touch and feel fabrics, discovering new trends, getting personal style advice, attending a workshop with one of our independent designers, or even playing with new tech we are testing out in the space, these are all steps to build a deeper, and more personalised relationship with our customer.”
The retailer has four showrooms in Europe so far and has committed to opening new showrooms in operating European markets countries. The first of these will open in Hamburg, Germany in the Spring. There are two other additional showrooms in the UK; in Birmingham and Redbrick, West Yorkshire.
Philippe Chainieux says “MADE.COM’s ambition is to create the leading design brand for the digital generation across Europe. The digital ‘millennial’ audience will account for 50 per cent of consumers by 2022 and as such, to succeed it is important to craft an interaction where they are, meeting their expectations and building a design experience around them”