The business, backed by Brent Hoberman, has expanded into the Netherlands, Germany and Belgium over the past year and half, and annual revenues for the year to December jumped by nearly 65 per cent to £42.8m.
Made.com was started in 2010 by designer Ning Li with backing from lastminute.com founder Mr Hoberman, Julien Callede and Chloe Macintosh, after he tried to deck out his Paris flat and realised there was a gap in the market for inexpensive designer furniture.
Consumer appetite for the brand’s products has been helped by it opening up a series of showrooms, including a flagship outlet in Soho, where buyers can try out items before purchasing online.
The annual results showed that while revenues jumped and the operating margin increased to 52.8 per cent, the operating loss widened from £4.9m the previous year to £5.3m.
Made is fast approaching a tipping point in its evolution with continued rapid sales growth and improving financial metrics
However, Li said the company – which prides itself on being able to work with designers to take a new design to market in just four months – is approaching critical mass as sales rise.
“Made is fast approaching a tipping point in its evolution with continued rapid sales growth and improving financial metrics,” said Mr Li. “Overseas sales now contribute about 30pc of total sales, demonstrating that the brand and the product have international appeal.”
Countries Made.com now sells in include France and Italy, and in the six months following the period covered by the annual results, Mr Li said sales have risen by nearly 50 per cent, helped by launching in Germany, which is Europe’s largest furniture market.
In July the company raised $60m (£38m) in new growth capital from Partech Ventures and Fidelity Growth Partners to accelerate its expansion, and Susanne Given, former chief operating officer at SuperGroup, has been appointed to the board.
