Coolblue grows fast in Belgium

Coolblue

Coolblue’s Belgian turnover grows faster than its group turnover, thanks to the opening of new stores and the roll-out to the French-speaking part of the country. The retailer belongs to the winners of the corona crisis.

 

New stores

Last year the turnover of Coolblue in Belgium increased by 48 percent to 553 million euros. The group turnover rose by 34 percent to 2 billion euros. The operating profit saw an increase of 35 percent to 2.3 million euros, sees business newspaper De Tijd in the recently published annual report of the Belgian company. But how we should estimate that amount is less clear: the Belgian division buys the products from the Dutch parent company under unknown conditions.
 

The strong growth of the retailer is primarily due to the corona crisis, which gave e-commerce an enormous boost. Coolblue also rolled out new services, such as the installation of electronics across the country. New physical stores opened in Hasselt and Brussels. Moreover, the web shop is focusing more on the French-speaking part of the country. The company hired 200 employees last year, bringing the total in Belgium to 700.
 

Earlier this week Coolblue announced the opening of a sixth Belgian store, in Kuurne. Physical stores are important for the retailer: many customers want to experience a product before they buy it. Stores are also convenient return points.