Made posts strong sales growth as it expands marketplace offering
Furniture retailer Made has posted gross sales growth of 38% to £434 million year-on-year in 2021 and two-year growth 79% as it expanded its marketplace offering.
The company said the increase was driven by a 26% uplift in the number of active customers to 1.3 million, a higher repeat order mix and its average order value improving by 8% year-on-year.
However, Made said growth was adversely impacted by the closure of Vietnamese factories due to Covid-19 restrictions and sector wide global supply chain issues. This led to up to 20% of key high performing furniture ranges being unavailable during its peak autumn trading period.
Made said its performance was consistently strong for both furniture and homewares as well as modular and “social” seating. It also benefited from its marketplace expansion into candles and home fragrance which is now moving beyond beta test after completing the first phase of its marketplace technology infrastructure implementation.
Philippe Chainieux, chief executive of Made, said: “I am delighted with how well the business is performing, with strong customer growth in all markets and the self-help measures implemented in H2 2021 now mitigating the impact of industry wide supply chain issues. Indeed, by the end of H1, we expect average lead times to be significantly below pre-lockdown levels and, with the acceleration of the homeware product range, the company is well positioned to deliver its strategic initiatives in 2022.”