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    Westwing (company)

    From Wikitia - Reading time: 5 min
    Westwing Group SE
    Public
    IndustryElectronic business and Retail
    FoundedApril 2011; 13 years ago (2011-04) in Munich, Germany
    FoundersDelia Lachance (born Fischer)
    Georg Biersack
    Matthias Siepe
    Stefan Smalla
    Tim Schäfer
    Headquarters
    Munich
    ,
    Germany
    Area served
    		Europe
    Key people
    		Andreas Hoerning[1]
    Sebastian Westrich[1]
    Revenue428.6 Mio. Euro[2] (2023)
    Number of employees
    		1614[2] (2023)
    Websitewww.westwing.com

    Westwing is a German company headquartered in Munich that operates an online home & living business. It is active in eleven European countries. The company's shares are listed on the CDAX.

    Business model[edit]

    Westwing is an eCommerce platform for home & living products. The overall range includes manufacturer brand products and own brand products.[3] In November 2022, the company opened its first flagship store at Jungfernstieg in the center of Hamburg.[4][5] The company is primarily active in the B2C sector, but also targets business customers (B2B).[3]

    Structure, markets and shares[edit]

    The company is legally organized as a Societas Europaea (SE). The parent company is Westwing Group SE. The annual report 2023 lists 13 German and seven foreign subsidiaries.[2] Management responsibility lies with the Vorstand (Management Board), which consists of two people. The Supervisory Board consists of five members.

    Westwing is active in eleven European countries. These are Germany, Austria, Switzerland, Poland, France, Spain, Belgium, the Netherlands, the Czech Republic, Slovakia and Italy.[6]

    Company shares are traded in the German Prime Standard and are included in the CDAX.[7] Around 17% of the shares are in free float, with the remainder held by institutional investors.[8]

    History[edit]

    Delia Lachance (born Fischer),[9] Georg Biersack, Matthias Siepe, Stefan Smalla and Tim Schäfer[10] founded Westwing Home & Living GmbH in the first half of 2011, and the company went online in August 2011.[11] The founders raised venture capital in several financing rounds, amounting to around 150 million euros by mid-2014.[12] Investors included Tengelmann, Rocket Internet, Holtzbrinck Ventures, Kinnevik and Access Industries,[13][14] among others.

    In August 2018,[15] the company was converted into an Aktiengesellschaft[14] and Westwing was listed on the Frankfurt Stock Exchange for the first time on 9 October 2018.[16] Before the IPO, the businesses in Brazil, Russia and Kazakhstan were sold and the company focused on European markets.[17] Due to a boom driven by the COVID-19 pandemic, the company's shares were promoted to the SDAX in December 2020.[18] After the end of this boom, the shares left this index at the end of 2021.[19]At the beginning of 2022, the change of legal form to a Societas Europaea was completed with entry in the German Commercial Register; the conversion resolution was passed in June 2021.[20] Andreas Hoerning has been CEO of the company since summer 2022.[21]

    References[edit]

    1. ↑ 1.0 1.1 "Westrich neuer CFO des Onlinehändlers Westwing". Börsen-Zeitung. January 26, 2023.
    2. ↑ 2.0 2.1 2.2 Geschäftsbericht 2023.
    3. ↑ 3.0 3.1 Herrmann, Lena (August 16, 2023). "Krisenbewältigung mit Stil". Werben & Verkaufen.
    4. ↑ "Flagshipstore im Herzen Hamburgs feierlich eröffnet". moebelkultur.de (in Deutsch). 2022-11-21. Retrieved 2024-03-04.
    5. ↑ Wassink, Melanie (August 31, 2022). "Hamburgs Innenstadt wird zur Möbelmeile". Hamburger Abendblatt.
    6. ↑ "Börsenkandidat Westwing wächst um 22 Prozent". Börsen-Zeitung. September 1, 2018.
    7. ↑ "Westwing Group SE". boerse-frankfurt.de (in Deutsch). Retrieved 2024-03-04.
    8. ↑ "Westwing Group SE Aktionärsstruktur". boerse.de (in Deutsch). Retrieved 2024-03-04.
    9. ↑ Kipp, Helmut (January 5, 2021). "Pandemie beschert Westwing einen Boom". Börsen-Zeitung.
    10. ↑ Becker, Walther (April 23, 2015). "Schöner wohnen im Internet. Westwing wächst rasant und unprofitabel − Neue Finanzierungsrunde für den "Proven Winner" von Rocket Internet – Börse lockt künftig". Börsen-Zeitung.
    11. ↑ Martina Kausch (2013-02-10). "Chic per Klick". Welt am Sonntag (in Deutsch). Retrieved 2024-03-19.
    12. ↑ Ludowig, Kirsten (August 11, 2014). "Die Großen das Fürchten lehren". Handelsblatt.
    13. ↑ "Tengelmann investiert ins Möbel-Geschäft". Der Spiegel. November 18, 2013. p. 66.
    14. ↑ 14.0 14.1 "Die Quartalszahlen des Tages". Wirtschaftswoche (in Deutsch). 2018-08-31. Retrieved 2023-12-13.
    15. ↑ Westwing Group GmbH: Announcement in Bundesanzeiger, August 20, 2018.
    16. ↑ Lisa Ksienrzyk (2018-11-20). "Westwing legt erste Zahlen nach Börsengang vor". businessinsider.de. Retrieved 2024-03-04.
    17. ↑ "Börsenneuling im Blick: Irgendwann steht jede Wohnung voll". Wirtschaftswoche. No. 41. October 5, 2018.
    18. ↑ Marion Schlegel (2020-12-31). "SDAX: Die 3 Top-Gewinner des Jahres – dieser Wert konnte 831 Prozent zulegen". Der Aktionär. Retrieved 2023-12-13.
    19. ↑ "SDax: Ehemalige E-Commerce High-Flyer Home24 und Westwing fliegen aus dem Index". it-times.de. 2021-12-06. Retrieved 2023-12-13.
    20. ↑ Westwing Group SE: Announcement in Bundesanzeiger, February 24, 2022.
    21. ↑ Kipp, Helmut (June 18, 2022). "Westwing-Mitgründer Smalla macht Platz für Hoerning". Börsen-Zeitung.

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