The online furniture retailer Westwing moved into the black for the first time in 2018. The start-up attributes this positive result to a high degree of customer loyalty: according to the company, 81 per cent of orders in the 2018 business year were made by existing customers. At the same time, the purchase volume per customer has increased.
Westwing has reported sales growth from Euro 220 million to Euro 254 million. On the basis of adjusted EBITDA, the furnishings company has improved its operating income by Euro 7 million and recorded an EBITDA surplus of Euro 3 million. “The 2018 business year is therefore the first year in which we have delivered a profit based on adjusted EBITDA,” according to Westwing.
Westwing is the market leader for inspiration-driven home and living e commerce in Europe. With its “shoppable magazine” format, the interiors start-up inspires its loyal, largely female, customers by combining content with a curated selection of products. Based on its own figures, Westwing generates 85 per cent of its sales with customers who visit Westwing’s web pages and apps on average 100 times a year.
The Munich-based furnishings company was founded in 2011. Westwing operates in eleven European countries and has been listed on the Frankfurt Stock Exchange since October 2018.
The online furniture retailer Westwing moved into the black for the first time in 2018 thanks to its loyal customer base.