Catawiki continues growth trajectory and reports first profits
Catawiki, a leading global marketplace offering hundreds of expert-curated auctions per week, announced its full-year results for 2020. The GMV (Gross Merchandising Value) in 2020 on Catawiki totalled €466M - representing a 34% growth compared to 2019. Both EBITDA and net profit grew to respectively €6.6M and €5.4M, marking the first profitable financial year ever for Catawiki since it started auctioning in late 2011.
A multitude of factors are behind these positive figures. To begin, throughout 2020, Catawiki witnessed a record number of new buyers and sellers onboarding its platform. With many shops and fairs closed during lockdowns, sellers have found a new and permanent solution in Catawiki, while more buyers have enjoyed the ease of buying online.
Furthermore, previous investments in other countries are starting to bear fruit. France has now become Catawiki’s largest market while Germany and Italy are demonstrating surging growth rates. On top of the rising popularity of Catawiki abroad, Catawiki’s historical markets - Netherland and Belgium - continued to grow respectively with 30% and 50%.
Another pertinent point is the renewed interest in collecting and an increasing appetite from younger generations for design objects and artworks - but also to consume more sustainably. When looking at Catawiki’s multiple categories of special objects, Collectables, Arts, Antique Jewellery, and Interiors were amongst the best performers in 2020.
Lastly, the numbers also reflect the strategic choices made some years ago. Back in 2018 Catawiki made the conscious decision to strengthen its quality guidelines, initiated several operational efficiencies and invested more in expert-curation and technology.
Ravi Vora, CEO at Catawiki, said: “People want objects that reflect who they are, and they want to get it sustainably. This, combined with our growth strategy and more sellers and buyers flocking online, is what’s really driving these numbers.”
“It’s great to show that we’re a profitable and healthy business. But, to unlock the full potential of Catawiki our focus will be on reinvesting to accelerate our growth trajectory”, Vora added.
2021 and Beyond
With a healthy balance sheet, the closure of a €150M investment led by Permira at the end of last year, and strong growth rates in Q1 2021, Catawiki is in a solid position to continue this positive trend. Catawiki will make further investments in technology and people and aims to hire over 250 people throughout 2021.
“Special objects are the last frontier of E-Commerce, and we’re uniquely positioned to move this sector online. With a decade of experience, 22 categories, a growing community of millions of buyers and sellers, and hundreds of experts that help ensure quality, Catawiki’s accessible online platform is set up to become the world’s largest destination for curated special objects,” Vora added.