Online furniture store Home24 ‘s turnover grew nearly 50 % last year, according to numbers revealed by shareholder Kinnevik. However, despite the increased turnover, the web shop’s losses also grew.
Increasing losses
Home24’s turnover grew 45.9 % in 2015, to 233.7 million euro, but the increase was still lower than 2015’s 72 %. Losses also grew about 50 % in 2015, up to 75.3 million euro. The web shop’s total number of orders grew 20.4 % to 1.2 million, while its customer base grew 70 % to 2.4 million. However, its total number of active customers (those that ordered at least once in the past year) only grew 28 % to 1 million.
Earlier this month, Home24’s investors gave the company another 20 million euro, in an attempt to become profitable. In that same move, the CEO was ousted and replaced by 2 new people, Marc Appelhoff and Christoph Cordes, who previously led Fashion For Home, a company Home24 acquired.
