Partner Article

Wayfair UK sales grow 80%

Online furniture retailer, Wayfair, announced record sales growth of 80% in the UK in its latest trading statement.

The company, which sells lighting, home furnishings and homeware, said it bucked the downward economic trend in the UK with “efficient sales and operational tactics.”

U.S. sales also fared well, and global revenues increased from £156m ($250m) in 2009 to £373m ($600m) in 2012.

Wayfair raised £22m of external funding last year, announced in December, in addition to £102m secured in 2011, which will be used to develop the firm’s international subsidiary businesses and brands.

The company said its main focus for the coming year would be to work on its brand activities and invest in line marketing schemes, which will include television advertising in the U.S.

Wayfair’s chief executive, Niraj Shah, commented: “Our steadfast growth is an indication of our hard work and unwavering commitment to the online home goods industry within every country in which we operate.

“We’ve set ourselves onto a great pace but there’s more scope for further market penetration and expanding our selection of home items even further which are our key objectives in the UK and across our global operations throughout 2013.”

“Our long term goal is to make Wayfair the one stop shop for home goods online, create a solid brand and continue to invest in our global operations to exceed our profit and revenue expectations.”

This was posted in Bdaily's Members' News section by Miranda Dobson .