Kogan says growth of Marketplace led to increased scalability

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Kogan says growth of Marketplace led to increased scalability

Segment grew 768 percent year-over-year.

Kogan’s reseller platform Marketplace has continued to post revenue growth for the company.

The division saw its gross sales grow 71.2 percent in the second half of FY2020, compared to the first half.

Year over year, Kogan Marketplace’s revenue grew 768.4 percent from $1.5 million in FY2019 to $13 million this year.

In the announcement of its FY2020 results, Kogan said Marketplace continues to resonate with sellers, with the number of sellers growing significantly and more on the backlog ready to be onboarded.

Chief executive Ruslan Kogan said, “Kogan Marketplace was a standout performer during the year, exceeding all our expectations and providing our customers with more choice than ever.”

“Importantly, the emergence of Kogan Marketplace has made Kogan.com even more scalable by enabling us to grow infinitely without a corresponding investment in inventory. This will enable us to delight more customers in more ways.”

The increased scalability provided by Marketplace’s growth has led to a transition for Kogan as a whole, as more investments are poured into continuing to improve the platform, the company said.

Overall, Kogan reported growth across the board, with double digit increases in gross sales, revenue, gross profit, EBITDA, net profit after tax. Active customers also increased 35.7 percent from 1.6 million to 2.2 million.

Looking ahead, Kogan is focused on further developing and enhancing Marketplace, as well as growing its active customer base, expanding its Exclusive Brands and Third-Party brands divisions, and reviewing ongoing acquisition opportunities.

Copyright © CRN Australia. All rights reserved.
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