Showroomprivé: Sustained Growth in the Third Quarter
Showroomprivé continued to invest significantly in the third quarter in order to reinforce its positions.
Roll-out of the strategic partnership with Steinhoff and its subsidiary Conforama rapidly ramping up with the opening of Showroomprivé Click & Collect points in 11 Conforama stores, together with the first commercial joint operations. Showroomprivé continued to invest significantly in the third quarter in order to reinforce its positions, drive its members’ engagement and prepare for the future.
The in-depth strategic transformation initiated by Showroomprivé and the execution of its strategic roadmap, is weighting on margins in the short term, however the effects will be decisive for achieving its long-term targets. Showroomprivé updates its revenues objective to c.€690 million (growth of c.+28%) and its Group’s EBITDA objective (excluding Saldi Privati) to c.€25 million (i.e. an EBITDA margin of c.4%).
Thierry Petit and David Dayan, co-founder and co-CEOs of Showroomprivé’s commenting these revenues, stated: «The growth observed during the third quarter underscores our strategic decisions, notably our international development, where business is increasing rapidly. We have continued the Group’s in-depth transformation initiated this year, by organising the first commercial joint operations with Conforama, and by continuing to invest significantly in order to expand our business activities.»