LuxDeco reports record quarter
LuxDeco has posted record quarter results, bucking the retail trend.
Despite a challenging retail climate, Oct-Dec 2019 proved to be a record quarter for LuxDeco. With a 38% increase in sales year on year, and an 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 has also increased gross margin by 32%. Monthly users are up by 60%, and the company has seen 57% of revenue comes from repeat customers.
Bucking the trend with a record quarter
All of this is despite a recent British Retail Consortium/KPMG study that found that 2019 was the worst year since records began. And that it was the first ever to show an overall decline in retail sales.
The Confederation of British Industry’s monthly distributive trends survey for January 2020 also showed flat sales for the third month in a row. And online retail is not immune from this.
Recently, premium online homewares retailer Houseology was forced into administration. Therefore, this makes LuxDeco’s contrasting performance all the more notable.
LuxDeco Founder and CEO, Jonathan Holmes, says: “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 team includes the strategic appointment of Jon Sharpe as Chief Creative Officer, Jonathon Warren as Commercial Director and Bastiaan Haghuis as VP Marketing.
The company has a world-class team that has extensive experience in marketing, e-commerce, and technology. It has also hosted its inaugural LuxDeco Connect event, which is a very important and key networking event for the luxury interior design and technology industries.