ShowroomPrivé no exception to French apparel industry’s weak first quarter
Like the whole apparel sector in France, event sales website ShowroomPrivé experienced a troubled start to the year, its revenue slumping by 1.9% in the first quarter 2018.
The French e-tailer generated a revenue of €150.8 million in the first three months of the year. Its management said this was due to the “market’s weakness,” and sees in this trend a continuation of the tough winter 2017-18 season. The number of buyers on the site was 1.5 million, down 5.9%, and average spend was down too, by 2.5%.
“In this quarter, our results were consistent with the trend envisaged in our Performance 2018-2020 plan, whose positive effects are expected to materialise gradually in the course of the year,” said the site’s co-CEOs Thierry Petit and David Dayan. “The implementation of the changes on which we are fully focused explains in part the business downturn in the first quarter. We remain convinced of the virtues of our plan and we have full confidence in the group’s medium-term potential,” they added.
Last year, ShowroomPrivé generated a revenue of €655 million, equivalent to a 21.4% increase. The site was listed on the Paris stock exchange in October 2015, and has 28 million members in France and another eight countries.
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