XXXLutz strengthens its eCommerce market position
Austrian furniture giant acquires Home24, now owning two of Germany's top 10 online furniture stores
Austrian furniture giant XXXLutz has taken over Berlin-based online furniture retailer Home24, acquiring 68% of the voting rights. After XXXLutz had gradually acquired several smaller offline competitors in the German furniture market like Poco or Mömax, the recent Home24 acquisition now further strengthens XXXLutz’ market position in the eCommerce field. With 36% of total furniture revenue in Germany being generated through online sales in 2021, the furniture segment does not only have a relatively high online revenue share compared to other retail market segments, according to Statista Digital Market Outlook data. With total revenues of €17.4 billion, furniture was also the third biggest market segment in the German eCommerce market in terms of total revenue. The takeover of Home24 now lets XXXLutz move closer towards the three leading players in the German ranking of the top online stores by total net sales in the furniture segment:
The ranking of the biggest online stores in Germany in the furniture market segment by total net sales is dominated by three players. With €2.6 billion, €2.1 billion, and €1.7 billion in 2021 respectively, amazon.de, otto.de, and ikea.com lead by a substantial margin over their competitors. The now acquired home24.de follows in rank 4 with total net sales of €339 million in 2021. xxxlutz.de is also a heavyweight in the German online furniture market, currently making rank 7 of the top stores with total 2021 net sales of €274 million. Both XXXLutz and Home24 are also among the leading players in the Austrian and Swiss furniture online store rankings. Home24 is currently active in six European countries, looking back on solid continuous growth:
Since 2017, Home24 SE has continuously increased its revenues. In just four years, revenues grew from €276 million in 2017 to €616 million in 2021, which corresponds to a total increase of 123%. Growth was relatively steady over the years, with solid double-digit annual growth rates. Corona year 2020 was an especially strong year for Home24, bringing about year-on-year growth of more than 32%. 2021 growth was also above pre-Covid levels. After the takeover by XXXLutz, home24 is planned to continue operating as an independent eCommerce platform in the home & living segment. With its business combination agreement, XXXLutz intends to strengthen home24’s market position and work towards further sustainable growth and expansion.
You want to find out more about Home24 as a company, for example on employee numbers, revenue breakdowns by URL or country, and other company financials? Check out the brand-new company profile of Home24 on ecommerceDB!
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