WorldStores in England is taking a page from the book of CSN Stores of the US, who successfully runs over 200 online niche stores in the house and garden market. The success of this strategy is apparent from the CSN Stores performance, having now reached 51st place amongst all the top American online retailers. Similarly, WorldStores is showing growing success:
"Internet ‘department store’ Worldstores expects to reach sales of £40million this year after a growth spurt that will see the company’s range more than double in size.
The company is one of a growing number of sites little known beyond a loyal customer base but on the verge of achieving sales to rival established High Street names.
Founders and joint chief executives Joe Murray and Richard Tucker expect to break even this year and have forecast growth of more than 70 per cent.
The site is split into subsites such as Matress World, BarbecuesWorld and CrossTrainersWorld. The number of home and garden categories has more than doubled to 76 in the past 12 months. The board believes that could increase to 200."
WorldStores has recently announced a second big financing round:
"Advent Venture Partners and existing investor Balderton Capital (“Balderton”) have provided funds of £8.5m.
This will enable WorldStores to expand rapidly into sizable new categories, to develop further its market-leading delivery and service offering, and to become the leading consumer destination for home and garden products."
WorldStores is expanding in England with dozens of sites and is looking to do some first trials in Germany in 2011.
In the German market, FP Commerce is already active in this market space, whereby their focus seems to be very much with Möbel-Profi.de. Otherwise they have rather toned down their offering by discontinuing niches such as their wine site.
Originally posted in German by Jochen Krisch, adapted for excitingcommerce.com by Jason Soo.
Comments