On 15 June, the online furniture retailer Home24 will be floated on the Frankfurt Stock Exchange, where it aims to raise up to Euro 150 million. The company’s primary intention is to continue to grow within its existing markets.
Employing 1,000 people, Home24 is active in seven European countries and in Brazil. A further expansion is not currently planned, but the start-up, founded in 2009, still has ambitious goals.
In 2017, its technological platform was completely redesigned in order to boost the efficiency of its processes and systems. In the first quarter of 2018, the company now appears to be on a course for growth that is likely to continue with the proceeds of its stock market flotation.
According to the company’s own information, Home24 stocks over 100,000 items, which it sources from more than 500 manufacturers. Two years ago, Home24 – which largely produces furniture for the mass market – merged with Fashion4Home, which mainly produced own brands.
The concept seems to be working. According to its own figures, own-brand products now account for more than 57% of sales. The company expects to reach break-even in the medium term.