ManoMano doubles sales volume to over £1bn
The spike in sales will reportedly facilitate expansion across Northern Europe
ManoMano, an online DIY marketplace, saw its global business volume climb to £1.05bn last year, with its UK sales tripling to £105m.
As a result of the spike in company-wide revenues, which more than doubled, the group is targeting an expansion strategy across Northern Europe.
According to Christian Raisson, co-founder of ManoMano, the £45bn UK home improvement market is “one of the most important in Europe”.
He said: “The year 2020 has been marked by a considerable increase in European consumers’ digital expectations for DIY, garden and home products.
“It is thanks to the commitment and resilience of our teams and our partners that we have been able to meet this demand, and we would like to thank them for this.”
While the company does hold over 5% market share in its native France, ManoMano’s UK operations currently sit a long way off market leader B&Q, which reported £3.28bn of sales in the year to 2020.
Céline Vuillequez, COO at the online retailer, said: “2021 is shaping up to be a year of consolidation of our product and service offerings for our customers, both individuals and professionals, and our seller partners.
“It will also be a year of strong European acceleration in all our countries, particularly in the United Kingdom and Germany.”
The news comes days after the announcement of future buy-now-pay-later regulations, following an FCA review.
The restrictions have been put in place against unsecured lending that poses a “significant risk” to the financial stability of online consumers.
