Showroomprivé: Revenue Down 13.4% in H1, Net Loss Deepened
Showroomprivé published on February 26, 2026 its first-half 2025 accounts, closed on June 30, 2025, after having already reported on its activity at the end of July 2025.
The decline in the group's historical flash sales businesses weighs on all aggregates, while growth drivers (Marketplace, The Bradery) show counter-trend progressions.
Revenue Down 13.4% and EBITDA of -18.2 M€
Over the first six months of 2025, the transaction volume (GMV) amounted to 439.7 M€, down 11.9% compared to 498.8 M€ in the first half of 2024. Net revenue fell 13.4%, to 275.6 M€ against 318.1 M€ a year earlier.
Gross margin came in at 94.8 M€, or 34.4% of revenue, compared to 38.3% in the first half of 2024 (a decline of 3.9 points). The group attributes this development to the sales mix as well as an impact of approximately 1 point related to disposals of old inventory carried out at lower margins in the second quarter.
EBITDA came in at -18.2 M€, compared to +1.6 M€ in the first half of 2024. Operating income was -26.1 M€ and net income was -30.3 M€, compared to -20.7 M€ a year earlier.
Historical Businesses Decline, Growth Drivers Advance
Historical activities suffered from an environment described by the group as marked by a contraction in household consumption and a decline in audience for flash sales websites. The Fashion division recorded the most significant decline with GMV down 21.0%, including -36% in women's ready-to-wear and -32% in jewelry. The Home division fell 15.2% and the Beauty division 5.7%.
Conversely, the Marketplace advanced 33.7%, driven in particular by the opening of activities in Belgium, Portugal and Spain at the end of 2024, which contributed 27% of its growth. The Bradery, whose sale of the group's stake was finalized on December 19, 2025, displayed GMV growth of 15.4%. Its contribution in the first half of 2025 amounted to 51.3 M€ of GMV and 35.6 M€ of net revenue. Excluding The Bradery, consolidated revenue for the half would have reached 240 M€.
The number of orders fell 20.5%, to 4.8 million, while the average basket increased 10.9%, to 92.2 euros. The group attracted 446,000 new buyers over the half-year, with the rate of loyal buyers at 75%.
Cash Position of 45.7 M€ and Target of 5 M€ in Logistics Savings for the Year
As of June 30, 2025, consolidated available cash amounted to 45.7 M€, compared to 46.0 M€ at the beginning of the period and 50.9 M€ on June 30, 2024. Financing flows represented +17.7 M€ over the half-year, including 20 M€ in drawdowns on the RCF credit line, compared to -2.9 M€ a year earlier.
The group indicates that after a first half less dynamic than expected, it did not observe a recovery in the second half of 2025. Showroomprivé has accelerated its strategic review with a view to a new plan in 2026 in line with the ACE plan. The streamlining of logistics should generate 5 M€ in savings over the full year. The results for fiscal year 2025 are expected on March 25, 2026.
