Another successful year for Pierce, net revenue increased by 300 MSEK during 2019

The Swedish e-commerce retailer Pierce, that runs the online stores 24MX, XLMOTO and Sledstore, closed 2019 with Net revenues of 344 MSEK in the fourth quarter after strong “Black Week” and Christmas campaigns. This equals a growth of 32 percent compared to the fourth quarter 2018.

Net revenues for the full year 2019 amounted to 1 243 MSEK compared to 943 MSEK in 2018, a growth of 32 percent.

– I’m proud and pleased with our achievements during 2019. We continue to grow on all markets and grow net revenues by 300 MSEK compared to last year. In addition to that we continue to grow profitably, which we have done since the start in 2009, says Henrik Zadig, CEO of Pierce AB.

Success driven by international expansion
Pierce opened its first localized online store outside Sweden already in 2011 when they entered the Finnish market. Today Pierce runs localized online stores in 17 European countries and over 80% of the revenues come from markets outside Sweden.

Scratched the surface of the onroad market
The European market for motorcycle gear, accessories and parts is fragmented with many small traditional motorcycle retailers. In total it is estimated to be a market worth over 90 billion SEK. Today the majority of sales takes place in physical stores, but there is an ongoing transition to online stores driven by availability, convenience and lower prices.

– We are still in the early days of this journey with Pierce. Our value proposition is stronger than ever, and we have many upcoming activities aiming at offering our customers an even better shopping experience in 2020, says Henrik Zadig, CEO of Pierce AB.
Summary of 2019

Summary of 2019
Pierce has continued to grow profitably and is now the largest and fastest growing MC-focused online retailer in Europe. Sales have tripled in the last three years. From approximately 400 MSEK in 2016 to approximately 1 250 MSEK in 2019, an annual growth of about 40%.

Other highlights from the past year:
Pierce has finalized step 2 in the expansion of its warehouse and fulfilment centre in Poland . The available warehouse space has more than doubled to 27,000 sqm to facilitate the company’s sales growth.