Munich, 22nd May 2024. Westwing, Europe's #1 in Beautiful Living e-commerce, proudly announces its expansion into the Portuguese market, launched on May 22nd. With a revenue of €429 million in 2023, Westwing continues its growth trajectory by entering its 12th European market. This marks the first new market expansion since 2014, reflecting Westwing's strategic focus on leveraging its successful business model across Europe. It is also the first country to operate on Westwing's new mostly software-as-a-service based technology platform.
"We aim to not just enter but become a part of Portuguese homes, inspiring and exciting them throughout this journey," states Andreas Hoerning, Chief Executive Officer at Westwing. "With our expansion to Portugal, we want to strengthen our position to become Europe's leading premium one-stop destination for Home & Living."
Portugal presents a significant opportunity for Westwing, with a growing home and living market valued at approximately EUR 2.2 billion. Despite a strong retail presence, only 25% of purchases are currently made online, a figure expected to rise to 48% by 2028. This indicates a substantial opportunity, responding to a Design Lovers savvy demand (local & expats), driven by an increase in urban real estate developments.
Westwing is committed to listening to Portuguese customers and continually enhancing the brand experience. The online offering will also include selected local brands, enriching its appeal to the target audience with a diverse portfolio of approximately 200 premium design brands.
By entering the Portuguese market, Westwing reaffirms its dedication to Beautiful Living, aiming to inspire and excite homes across Europe with its customer-centric approach and unparalleled design expertise.
About Westwing Westwing is Europe's #1 in Beautiful Living e-commerce, with EUR 429 million revenue across 11 countries in 2023. The premium one-stop destination for Design Lovers is offering a unique brand experience with a curated assortment of the Westwing Collection and the best design brands. The integrated platform combines Shop, Club Sales, offline Stores, B2B services and Westwing Studio. The team consists of 1,700 professionals working together towards a shared purpose to "excite people to create homes that unlock the full beauty of life". Founded in 2011, Westwing is headquartered in Munich and went public on the Frankfurt Stock Exchange in October 2018.
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Westwing Group SE is a Germany-based company specializing in the home and living e-commerce sector. The Company offers a broad range of home products, which include home decor products, home accessories, textiles and rugs, and large and small furniture, such as living and dining furniture, upholstery, and bedroom furniture, as well as kitchen and dining, lighting, and other products under own private label and third-party brands. It cooperates with more than 500 partners, including designer brands, manufacturers, and suppliers, such as KitchenAid, Flos, Nespresso, jankurtz, Jonathan Adler, hessnatur, among others. The Company is active in 11 European countries, including Germany, Austria, Switzerland, Belgium, the Czech Republic, France, Italy, the Netherlands, Poland, Spain, and Slovakia.
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