Westwing

from Wikipedia, the free encyclopedia
Westwing Group AG
legal form Corporation
ISIN DE000A2N4H07
founding April 2011
Seat Munich , GermanyGermanyGermany 
management
  • Delia Lachance
  • Stefan Smalla
  • Sebastian Säuberlich
Number of employees approx. 1100 (2018)
sales 267 million euros (2019)
Branch E-business
Website www.westwing.com

Westwing is a German company headquartered at Moosacher Straße 88 in Munich , which conducts internet trade for everything to do with Home & Living.

history

The business idea for the company came from Delia Fischer, who, while working as editor of the women's magazines Elle and Elle Decor, recognized a gap in the market in the areas of furniture and home accessories. Westwing Home & Living GmbH was founded in April 2011 by Delia Fischer and the co-founders Stefan Smalla, Tim Schäfer, Matthias Siepe and Georg Biersack (previously Zalando ), who acted as the management team . The founding team was able to attract enough investors to set up a shopping club, which went online in August 2011.

After initial successes, the company had to withdraw from some international markets in 2012 and lay off some of its employees.

Investors rated the company in a financing round in January 2015 at EUR 449.2 million.

In the 2017 financial year, Westwing achieved sales of EUR 265.8 million. The operating loss fell in the same period from 13.8 million euros to 4.9 million euros. As the company announced on August 2, 2018, it will focus on its core business in Europe in the future. That is why Westwing has decided to part with its operations in Brazil, Russia and Kazakhstan. Excluding these countries, the company achieved sales of EUR 220 million in 2017.

On August 16, 2018, the company was converted into a stock corporation and on October 9, 2018, Westwing was listed on the Frankfurt Stock Exchange for the first time.

In the 2019 financial year, Westwing achieved sales of 267 million euros, with the company generating an operating loss of 10 million euros.

Corporate governance

Board Management team
  • Delia Lachance, Founder and CCO
  • Stefan Smalla, founder and CEO
  • Sebastian Säuberlich, CFO
  • Georg Biersack, co-founder
  • Matthias Siepe, co-founder
  • Tim Schäfer, co-founder

Business model

Westwing is an eCommerce platform for home & living. In the format of a 'Shoppable Magazine', customers are offered a curated selection of products that the company combines with creative content. In addition, Westwing has been offering WestwingNow - a permanent range of Home & Living products - in some markets since 2015.

At Westwing, product placement in home stories is part of the marketing mix .

Westwing is represented in 11 European countries (Germany, Austria, Switzerland, Poland, France, Spain, Belgium, the Netherlands, the Czech Republic, Slovakia and Italy).

Investors

As a start-up , the company has worked with investors from the start. The first investor was Holtzbrinck Ventures , who also invested in Zalando and Groupon , among others .

In the following years, Rocket Internet from the Samwer brothers , Investment AB Kinnevik , Access Industries , Summit Partners, Tengelmann Ventures and most recently Fidelity Worldwide Investment and Odey followed suit. Kinnevik held the largest share in Westwing with 13.49%. In November 2019, Kinnevik sold all of its shares to an investment bank.

Web links

Individual evidence

  1. ^ Westwing - company profile. In: Gründerszene. 2016, accessed December 30, 2019 .
  2. ^ Westwing on course for growth , September 1, 2011
  3. ↑ Westwing shrinks into the black , October 1, 2012
  4. ↑ Westwing valuation rises to 449.2 million euros - deutsche-startups.de . In: deutsche-startups.de . January 7, 2015 ( deutsche-startups.de [accessed April 25, 2018]).
  5. ↑ EUWID Möbel: Home24 and Westwing have further reduced losses | EUWID furniture. Retrieved April 25, 2018 .
  6. ↑ a b Westwing: Rocket Internet is doing it again. In: ARD. August 31, 2018, accessed September 4, 2018 .
  7. ↑ Westwing sells all non-European activities. In: Gründerszene. August 3, 2018, accessed August 15, 2018 .
  8. ↑ Why Westwing is giving up three markets. In: Manager Magazine. August 6, 2018, accessed August 15, 2018 .
  9. ↑ Press release: Westwing with profitable growth in the first half of 2018 and focus on Europe. Westwing Group GmbH, August 2, 2018, accessed on August 20, 2018 .
  10. ↑ Westwing goes public - the first day of trading in the live ticker . In: Gründerszene Magazin . October 9, 2018 ( gruenderszene.de [accessed October 9, 2018]).
  11. ↑ Weak year 2019 for Westwing. In: Gründerszene. March 19, 2020, accessed June 16, 2020 .
  12. ↑ a b Company | Westwing Group. Retrieved June 16, 2020 (English).
  13. ↑ Westwing - Who we are. Retrieved August 20, 2018 .
  14. ↑ What is WestwingNow. Retrieved August 20, 2018 .
  15. ↑ Möbel-Portal deletes homestory from Natalia Wörner and Heiko Maas' apartment. | turi2 . In: turi2 . ( turi2.de [accessed on September 9, 2017]).
  16. ↑ Press Release: Westwing with profitable growth in the first half of 2018 and focus on Europe. August 2, 2018, accessed August 20, 2018 .
  17. ^ Westwing International. Westwing GmbH, accessed on August 20, 2018 .
  18. ↑ n-tv NEWS: Kinnevik leaves Westwing. November 12, 2019, accessed February 4, 2020 .

Coordinates: 48 ° 11 ′ 13 ″  N , 11 ° 32 ′ 40 ″  E