E-Shopping Group, a company that owns 7 online stores and its own brand Bentivolio, has shown impressive growth in net sales revenue in the first half of 2024. The company reported a net sales revenue of 1.5 million PLN, a six-fold increase compared to the same period in 2023 when it generated 0.2 million PLN in revenue.
In the second quarter of 2024 alone, E-Shopping Group achieved nearly 0.8 million PLN in net sales revenue, marking a more than 4-fold increase compared to the second quarter of 2023. This significant growth in revenue has led the company to increase its equity to 0.49 million PLN by the end of the reporting period.
Maciej Nowak, the CEO of E-Shopping Group, expressed optimism about the company’s future prospects, stating, „E-Shopping Group is steadily increasing its sales revenue and customer base, which looks very promising. We plan to continue the rapid development of our online stores and our own brand Bentivolio, which provides us with an average margin of 70%. We are also in negotiations for key agreements that will enable us to achieve even more dynamic revenue growth in the second half of this year.“
Furthermore, the company is in talks with an investor who supports the realization of their ambitious goals. There are also plans for expansion into new areas of business on the horizon.
Despite the impressive revenue growth, E-Shopping Group reported a loss of 0.15 million PLN in the second quarter of 2024, comparable to the loss in the same period of 2023. However, the company remains focused on achieving profitability and increasing sales results in the upcoming reporting periods.
Dariusz Wais, the Chairman of the Supervisory Board at E-Shopping Group, emphasized the company’s commitment to improving profitability and sales results in the future. E-Shopping Group operates on a flexible dropshipping model and sells products in the Czech Republic and Slovakia, with plans to expand to Romania and the Middle East soon. The company’s long-term goal is to build a multibrand hub in the global online sales segment while developing its portfolio of own brands.
In conclusion, E-Shopping Group’s impressive revenue growth and strategic plans for expansion demonstrate its potential for further success in the e-commerce market. With a focus on profitability and expanding into new markets, the company is poised for continued growth and innovation in the coming quarters.