As the global economy continues to grapple with uncertainty, Showroomprivé has released its financial results for 2024, demonstrating a remarkable ability to adapt and thrive in challenging times. Despite a slight decline in sales, the company has maintained a Gross Merchandise Volume (GMV) of nearly €1 billion, a testament to its resilience in the face of increasing competition in the e-commerce sector.
According to David Dayan, President and CEO of Showroomprivé, the group’s ability to navigate this complex environment is a direct result of its strategic vision and the dedication of its teams. “Our group has shown remarkable resilience, achieving a GMV of almost €1 billion and making key progress on our ACE strategic roadmap,” Dayan emphasized. “Thanks to our teams’ hard work, we’ve driven our commercial review, launched our marketplace internationally, invested in our digital platforms, and strengthened growth drivers like The Bradery.”
A closer look at the numbers reveals that Showroomprivé’s GMV reached €999.2 million, representing a 0.5% decline compared to 2023. Sales stood at €646.5 million, reflecting a 4.5% decrease, largely due to sluggish consumer spending and reduced online traffic. However, the company’s growth engines continued to gain traction, accounting for over 22% of the total. To stimulate demand, Showroomprivé implemented a pricing adjustment strategy, which led to a commercial recovery in key events like Black Friday. Although this strategy impacted margins, resulting in a neutral contribution to profitability in the second half of the year, the company still achieved a positive EBITDA of €2.3 million.
The net loss for the year was €39.7 million, largely due to financial costs, amortizations, and provisions. Nevertheless, operating cash flow increased to €12.1 million, with a positive net cash position of €9.3 million and equity of €162.8 million.
Evolución por Segmento
The company’s core flash sales business experienced an 8% decline, attributed to the slow recovery of consumption in fashion and home goods, the disappearance of certain brands, and decreased online traffic. However, the group’s diversification and growth initiatives yielded positive results:
- The Bradery: 41% growth in GMV, with a 62% increase in the number of sales and a rise in average basket size.
- Marketplace: 56% expansion, reaching €52 million, with the integration of new premium partners and its launch in Belgium and Spain, followed by a planned expansion to Portugal in 2025.
- Viajes y Ocio: 16% growth in GMV, driven by new packaged offers and improvements in user experience.
- Internacionalización: nearly 10% expansion in all markets.
Perspectivas para 2025
Looking ahead to 2025, Showroomprivé will continue to implement its ACE strategy, focusing on operational efficiency, digitalization, and sustainable growth. Despite the challenging economic context, the company remains confident in its ability to innovate and strengthen its market position. With a solid foundation in place, Showroomprivé is well-equipped to navigate the complexities of the global economy and emerge even stronger in the years to come.