European design brand Made.com has reported record results for 2018, with revenue up +37%. Yesterday, the company also unveiled the expansion of its flagship showroom in Soho, which has tripled in size and now houses a host of new technology.
The results show total revenue of £173m for 2018, up +37% YoY. Revenue in the UK hit £100m for the first time, accounting for 58% of the company's turnover. The +34% increase in UK revenue YoY also shows that the business is accelerating in its most mature market, building on the +29% increase seen in 2017.
International revenue increased by +40% to £73m. Following the successful launch into Spain last October, Made's CEO Philippe Chainieux says 2019 will see Europe overtake the UK as the brand’s biggest market. Made is currently present in nine markets across Europe, and this year will launch a further four territories – Portugal, Italy, Denmark and Sweden.
“We had a strong year in 2018, at a time when the retail sector is going through unprecedented change," says Philippe. "Over the past 18 months, we have seen an accelerating trend towards customers shopping online of big-ticket items, driven by a massive shift in consumer behaviours and the rise of the digital generation.”
Concurrently, the space in Made's London flagship showroom has trebled to more than 1100 sqm. Chief creative officer Jo Jackson comments: “For us being a digitally-native brand, online will always come first, but we know a human connection with the brand can be a valuable midpoint in our customer journey. We are doing something different with our physical spaces. They are not shops, they are brand experiences. From being able to touch and feel fabrics, discovering new trends, getting personal style advice, attending a workshop with one of our independent designers, or even playing with new tech we are testing out in the space, these are all steps to build a deeper, and more personalised relationship with our customer.”
Made has four existing showrooms in Europe, and has committed to opening new showrooms in operating European markets' countries. The first of these will open in Hamburg, Germany, this spring.
Philippe adds: “Made.com's ambition is to create the leading design brand for the digital generation across Europe. The digital 'Millennial' audience will account for 50% of consumers by 2022 and as such, to succeed it is important to craft an interaction where they are, meeting their expectations and building a design experience around them.”