European home interiors and furniture brand Made.com, has announced that after consistent growth over the past ten years and cumulative sales of £billion, all its 650 staff will be given a stake in the business.
With the exception of senior management, staff will receive the same number of share options over the next three years, in recognition of the commitment shown by its loyal workforce during the pandemic.
CEO Philippe Chainieux comments: “I have been delighted by the way in which everyone at Made has pulled together as a team during this unprecedented time. There have been many challenges for the retail sector this year, but I am proud to say that thanks to the structure of our business and the tireless efforts of our people, we have emerged from the crisis in a very strong position. The share options are a way of saying ‘thank you’ to colleagues for their past efforts but also a way to give them a stake in the exciting future we see for our brand.”
The business accounts for 2019 show a 22 percent increase in group revenue to £212m, the 10th consecutive year of growth. The stellar results come on the back of landmark investments made by the company in 2019, when it opened three new warehouses, two in mainland Europe and one in the UK, as it prepares for next phase of growth. It also invested in logistics and its website to enhance customer experience.
Despite being forced to close showrooms during lockdowns across Europe, Made has continued to see strong trading this year, with cumulative sales since the business opened ten years ago passing £1b in November. Made now has over a million active customers who shopped in the last year, and more than a million followers on Instagram.
In a response to covid lockdowns the company launched a digital ‘see-now-buy-now experience’, showcasing new collections in a curated apartment in Amsterdam. Black Friday was the busiest day in the company’s history, with UK sales doubling year-on-year. The outlook for Christmas and January is “very positive”.
Mr Chainieux added: “We have seen a rapid acceleration in the shift to online this year, an evolution which was predicted to take four or five years taking place in a matter of months. Covid has forced more people to work from home throughout this year, we have seen a huge increase in demand for home offices, for example, desk sales up +200%. Whilst there will undoubtedly be a return to the office in due course, we believe the ability and requirement to work from home on a part-week basis will remain.
“Reaching £1b sales since launch is an important milestone for the company. We are now firmly targeting the billion annual sales mark as we continue to build a leading global design brand.”
