Home24, one of Europe’s largest online furniture shops, has announced a shop launch in Italy and also presented its half-year figures for the first half of 2014. In addition to this news, Home24 is showing signs of very positive business development and continues to expand its strong market position throughout Europe and Brazil.
In the first half of the year, the startups’s net revenue totaled €59 million, which equals 64% of the total net revenue of 2013. In the first six months of 2014, the gross merchandise volume was at €69 million (+43% compared to H1 2013). Furthermore, in the first half-year of 2014, the number of orders totaled €0.4 million (+37% in comparison to H1 2013). A further increase is expected for the second-half of the year.
Another big piece of news is that Home24 is launching in Italy, marking its seventh shop in Europe. The launch in Italy is already the third one this year for Europe’s largest online furniture shop. At the beginning of the year, Home24 launched in Switzerland, shortly after in Belgium. Its website enables Italian customers to choose from Home24’s large collection and order their desired products from the comfort of their own homes. The purchases are delivered into the customers’ homes, free of charge.
Second only to Germany, the Italian furniture market is the largest in Europe. So far the majority of revenue is generated throughout stationary markets, however, this is changing rapidly, with a growing number of Italian customers now shopping online. According to a study of the Centre for Retail Research, the growth rate of Italian e-commerce lies at about 19% in 2014. In Germany, this rate is at about 22%.
Domenico Cipolla, CEO at Home24 says: “Our goal is to offer our customers the best possible shopping experience. At Home24, our clients are able to choose their products via the internet, without being forced to spend their free Saturday in overly crowded furniture stores. We deliver all products free-of-charge into the homes of our customers. Should they not be satisfied with their choice, we will pick the product up – this is also for free.“
Cipolla adds: “Italy is one of the most important countries in the European furniture industry. We are currently already working with a variety of Italian manufacturers and will expand this collaboration even further with our launch in Italy. Furniture and Italy clearly belong together. Nevertheless, we currently do not see any comparable shop to Home24, in Italy. Our assortment and service is one of a kind in Italy. The Italian furniture market is enormous and Italians continue to order more online – we therefore see huge potential in this country. From now on, we are able to also cater to the needs and wishes of our Italian customers and elate them with the shopping experience at Home24.“
By the way: You can find out about other interesting startups from Italy in this list.
