Two German online furniture stores and Zalando affiliates, Home24 and Westwing, have managed a strong turnover growth in 2014, although both are yet to post a profit.
Growth, but still onerous
Westwing managed a 183.3 million euro turnover in 2014, up 66 % compared to the year before. Despite the strong growth, it still posted a 46.9 million euro loss, which is 25.6 % of its total turnover. In 2013, its losses amounted to 33.3 % of its total turnover.
Home24's turnover grew 72.5 % to 160.1 million euro, but the company also posted a considerable loss, at 49.4 million euro, which is 30.8 % of total turnover. This is still a somewhat positive evolution as 2013's losses reached 34 % of total turnover.
The two online sellers have invested a lot last year and will do so again this year: Home24 has opened two new distribution centers and has also recently launched a new app, while it will also launch a new brand soon. Westwing on the other hand has expanded to another five countries and also launched Westwingnow this year, a separate online furniture store.