Amsterdam – January 6, 2020
In 2019, Flinders has achieved a revenue of over €22 million. Which represents a growth of 13% with regard to the year before. The greatest growth within the company was achieved by the B2B department, which expertise lies in complete furnishing solutions for companies in The Netherlands as well as Belgium. This year, the emphasis will be on improving the margins and utilising economies of scale. To accelerate the growth, Flinders will actively look for partnerships and acquisitions in 2020.
The growth stayed behind of the expectations in the past year. Mainly due to the closing of the German webshop towards the end of 2019. “A hard decision, but necessary”, thus Geert-Jan Smits, CEO of Flinders. High logistic costs for the furniture transportation combined with significant amounts of returns as well as the marketing expenses were the main reasons why a positive businesscase couldn’t be realised. The focus will now be on The Netherlands and Belgium. Flinders aims for leadership in those markets. The largest growth of 25% was realised by the department focused on the projectmarket. They managed to support lots of private organisations and interior professionals with their furnishing solutions.
A number of important projects are on the agenda for 2020. For example, Flinders is going to migrate to a new e-commerce platform, called Magento 2. In addition, the company will move to a new warehouse of 14.000 m2 in Amsterdam coming June. Also, Flinders will further expand their portfolio with private labels in order to improve the gross margins and profitability. “E-commerce is a margin business. Many more projects that will improve our operational profitabilty in terms of logistics, customer service and marketing will be implied in 2020,” thus Smits.
Flinders will look for further growth in The Netherlands as well as in Belgium. “Flinders has a scalable businessmodel in which extra volume will have a positive effect,” thus Smits. To utilise the economies of scale, Flinders is going to look for partnerships and acquisitions of similar parties like suppliers, retailers and project furnishers. Currently, Flinders is having conversations with investors who want to help realising the ambition to grow.
At Flinders, an online furniture store, consumers and companies can browse through over 36.000 design products. The company consists of two webshops; in The Netherlands and in Belgium. In addition, the company also has a project department (Flinders Projects), a furniture store in Zaandam (The Netherlands), a designstudio in Ghent (Belgium) and a café in Groningen (The Netherlands). In 2019, Flinders has been chosen the winner of the Shopping Awards in the category Home & Living. The company currently employs 120 people.