MADE.COM, the furniture design brand, has recorded its maiden profit in the UK for the year ending 31 December 2016.
Overall sales grew by 48% to £91m with UK sales ahead 38% and international business increasing by 69%. Made.com continued to expand overseas and international sales now account for 35% of the total, up from 31% in 2015.
The retailer launched a flagship 840sq m showroom in Paris and its first German showroom was opened in Berlin.
Commenting on the results and the long term strategy Philippe Chainieux, CEO of MADE.COM, said: “Our latest published financial results, show sales fast approaching £100m, demonstrating our scale and proving that the online business model works, as operational leverage becomes evident. While our primary focus continues to be on winning Pan European market share in order to optimise this sizeable long term opportunity, the UK’s move into profitability is a significant moment in the Group’s evolution.
“Since inception seven years ago, MADE was created with the specific purpose of winning and winning big in the consumer transition from high street to online by creating a new and contemporary customer proposition, which helps overcome the hurdles to online purchase. The pace of this structural shift is increasing and is now more evident than ever, with consumers growing in confidence transacting online, for home and big ticket items. MADE is leading this change.
The coming years for MADE are expected to be as transformational as the last. At its core MADE has a unique combination of design-talent both in-house and through collaborations with leading designers, extensive direct relationships with manufacturers and a highly engaged customer base of brand advocates. Through our technology platform, we will increasingly harvest the views of customers to help determine which unique products to produce and sell globally under the MADE brand; making good on our commitment and promise to democratise excellent design.”