LuxDeco, the global luxury interiors platform, has posted record quarterly results.
Despite a challenging retail climate, Oct-Dec 2019 proved a record quarter for LuxDeco with a 38% increase in sales YOY and 89% increase in sales on the previous quarter.
In January 2020, LuxDeco’s growth continued unabated as the company recorded a 147% increase in sales on the same period the previous year. It also increased gross margin by 32%, monthly users by 60% and saw 57% of revenue come from repeat customers.
A recent British Retail Consortium/KPMG study found that 2019 has been the worst year since records began and the first ever to show an overall decline in retail sales. The CBI’s monthly distributive trends survey for January 2020 showed flat sales for the third month in a row. And online has not been immune. Recently, premium online homewares retailer Houseology was forced into administration making LuxDeco’s contrasting performance all the more notable.
Jonathan Holmes, Founder & CEO of LuxDeco, said: “In the latter part of 2019 we made key investments in leadership, marketing and technology. We are delighted to see those investments pay off with record performance.”
LuxDeco’s new leadership included the appointment of Jon Sharpe as Chief Creative Officer, Jonathon Warren as Commercial Director and Bastiaan Haghuis as VP Marketing. This has created a world-class team with extensive experience in marketing, e-commerce and technology from companies including Appear Here, Checkout.com, M&CSaatchi, Finery London, Worldstores and Dunelm. The company also hosted its inaugural LuxDeco Connect event, a keynote and networking event for the luxury interior design and technology industries.
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ABOUT LUXDECO www.luxdeco.com
• LuxDeco is the world’s leading luxury interiors platform which is changing the way people design and shop for their homes.
• Hailed as the "Net-a-Porter of interiors" by the Financial Times and The Daily Telegraph, LuxDeco is an industry disrupter providing an enjoyable and seamless journey for customers, from discovery to purchase, through customised suggestions, an unparalleled product offering and responsive customer service.
• LuxDeco offers international clientele access to hundreds of the world’s leading interior brands, including AERIN, Bernhardt, Cire Trudon, Eichholtz, Kelly Wearstler and Ralph Lauren and has delivered tens of thousands of products to customers in more than 60 countries.
• Founded in 2012 by serial entrepreneur Jonathan Holmes, LuxDeco is redefining the luxury interior design experience, helping people around the world to live beautifully.
This press release was distributed by ResponseSource Press Release Wire on behalf of LuxDeco in the following categories: Business & Finance, Retail & Fashion, for more information visit https://pressreleasewire.responsesource.com/about.