Made.com is to give all its staff a stake in the business, which has delivered 10 years of growth and seen cumulative sales hit £1b. All 650 employees (apart from senior management) will receive the same number of share options, vesting in equal tranches over the next three years.
Made says the move was made “in recognition of the commitment and sacrifices made by the workforce during the pandemic”.
CEO Philippe Chainieux says: “I have been delighted by the way in which everyone at Made has pulled together as a team during this unprecedented time. The share options are a way of saying ‘thank you’ to colleagues for their past efforts but also a way to give them a stake in the exciting future we see for our brand.”
Made.com CEO Philippe Chainieux
The announcement came as the business prepared to file accounts for 2019, showing a group revenue increase of +22% to £212m.
Made saw strong trading in 2020, despite being forced to shut its showrooms across Europe at various times. The company now has more than one million active customers who shopped in the last year, and more than a million Instagram followers.
Philippe says recent trading has been shaped by the pandemic, fundamentally changing the way people shop and think about their home: “We have seen a rapid acceleration in the shift to online, an evolution which was predicted to take four or five years taking place in a matter of months.
“Reaching £1b sales since launch is an important milestone for the company. We are now firmly targeting the billion annual sales mark as we continue to build a leading global design brand.”
Article courtesy of www.furniturenews.net