Coolblue hits turnover of 2 billion euros

Coolblue

Coolblue has reached the milestone of 2 billion euro turnover: during the Covid year 2020, the electronics retailer sold 34 per cent more. The Belgian market now accounts for a quarter of all sales.

 

Successful German launch 

The year 2020 was an unsurprisingly good year for Coolblue: the omnichannel retailer saw its turnover rise from 1.5 to 2 billion euros, a rise of 34 per cent to the year before. EBITDA also increased sharply, from 48 to 114 million euros. In addition to traditional electronics sales, the company focused on home offices during the coronavirus pandemic. For example, Coolblue introduced Home office stores, a new service for employers to provide their employees with a work-from-home station.

 

Last year, however, the biggest step was undoubtedly the leap into Germany: since 2020, Coolblue operates in the Ruhr area, with its own delivery network, installation service and bicycle network. The expansion is said to be a success, but the retailer does not disclose any concrete figures. Founder Pieter Zwart did announce that a first physical store will open soon in Germany.

 

Meanwhile, Belgium is responsible for over a quarter of total turnover. Belgian sales went from 370 million euros to 550 million euros. Therefore, the Dutch company opened two new flagship stores, one in Hasselt and one in Brussels, and extended its own delivery and installation service for white goods and televisions nationwide. Today, there are over 700 Belgian Coolblue employees.

 

Store openings and green energy

In 2021, Coolblue plans to open even more outlets, including more Home office stores and outlets in Germany. Furthermore, the company is investing in a new warehouse, as well as the recently launched Coolblue Energy. Thanks to the takeover of a Dutch energy supplier, Zwart also wants to supply green electricity to the public - preferably linked to the sales of solar panels, charging stations and other 'energy-efficient' products.

 

In Belgium, at least two more stores will open this year, and the Coolblue bike delivery service is expanding to more cities. That way, over 150 jobs would be created this year.