Design brand Made.com has unveiled plans to launch into Spain’s £6b market for furniture and homewares. The move was announced by CEO Philippe Chainieux at the South Summit in Madrid.
Online penetration is increasing rapidly in Spain, from a low base compared with the UK, with the furniture and homewares sector a specific area of growth forecasted to reach almost 13% penetration by 2022.
Made already operates in seven markets across Europe, and its products are set to appeal to Spanish millennials – indeed, the company already collaborates with Spanish designers including Casa Estudio and Nelson Ruis Acai.
Recent figures indicate that Made's turnover increased by +40% to £127m last year, with over 40% of revenue coming from its international business – up from 35% in 2016.
Philippe Chainieux comments: “The move into Spain is another important milestone on our journey to become Europe’s leading design destination. The total market for furniture and homewares in Europe is worth in the region of £120b, so there’s lots to play for.
“We believe Made is set up to be one of the winners in an era of enormous and rapid change in retail, as more of the market moves online. We have a unique range of design-led products and deep supplier relationships which enable us to bring new products to market every week, giving consumers new reasons to shop with us. We have also made significant investment in our technology and infrastructure, giving us a platform that can be scaled to support our rapid growth.”