The growth journey continued in the second quarter. Net Revenues in the second quarter amounted to 340 MSEK, an increase of 84 MSEK, or 33%, compared to the same period last year. During the first half of 2019, operating income grew by 155 MSEK, or 34%, to 608 MSEK.
– Two things distinguish Pierce from many other online retailers. Our strong growth is almost exclusively organic, and we are growing with a continued, positive operating profit. In fact, we have been profitable since the start in 2009, says Henrik Zadig, CEO of Pierce AB.
International expansion and increase in product assortment behind the success
Pierce is one of the most successful Swedish e-commerce companies when it comes to international expansion, which is reflected in the numbers. Over 80% of the Net revenue comes from outside of Sweden.
One of Pierce´s most important strategic priorities have been to broaden its product assortment to meet customer needs in the international markets. In the last 12 months, the number of products has increased by more than 60%.
– For several years, we have worked hard to develop our cooperation with the industry´s biggest brands. In parallel, we have built a portfolio of private brands. We have found a concept for international success, but there is still a lot to do, says Henrik Zadig, CEO of Pierce AB.
– We still invest heavily in strengthening the organization, developing IT systems and restructuring our processes to handle the larger volumes and to continue to offer a first-class customer experience, concludes Henrik Zadig, CEO of Pierce AB.