The most rapid growth came from the Group’s business in Romania and Greece, where sales went up by 175% and 162% respectively. In addition, an increase of 50% or more came from sales in Croatia, Hungary, Bulgaria and Slovenia.
In total, Furniture1 sales across these countries reached 46 million euro last year.
In the Baltic States, where the Group originated, its 2020 turnover was 23.3 million euro – an increase of 21% compared to the previous year. The most rapid growth among the Baltic States was reported in Latvia where the sales were up by 35%.
“Our approach to customer service became the main engine for our growth. Our aim from the very beginning has been to be different from traditional furniture sellers,” says Pijus Makarevičius, founder and CEO of Furniture1.
The business group sells its furniture online. In an effort to re-assure their customers, the company offers the option to pay only once the item is delivered, as well as allowing to return the furniture within 12 months of delivery.
“These solutions appear risky, but the results show that they have paid off. We are fully aware that furniture is a very important and expensive purchase for our customers, so we aim to make them feel as safe and comfortable as possible. Our customers see that we trust them and that we believe in the products we sell. In return our customers trust us too,” Makarevičius says about the business model of Furniture1.
Throughout 2021 the company intends to continue increasing the number of countries it operates in. Earlier this year, Furniture1 launched a branch in Spain, with plans to enter the French market in the near future.
“Our expansion plans include even more markets. We see that both our business model and the overall increase in online sales due to the pandemic allow us to effectively compete with traditional furniture sellers,” says P. Makarevičius.
Furniture1 group launched operations in Lithuania in 2008 and is now present in eleven European countries: the Baltic States, Hungary, Croatia, Slovenia, Bulgaria, Romania, Greece, Italy and Spain. The group employs over 500 people.
