French furniture business Roche Bobois has achieved a new sales record in 2022 at €408.5m, well above the announced target of €385m, and showing strong growth of 22.3% compared to 2021.
In 2022, the total volume of business, all brands combined, beat a new record at €652.5m (+2% compared to the 2021 financial year and +33.1% compared to the year 2019, pre COVID-19). Own stores outperformed at €364.7m, up +4.2% (all brands combined) and +6.5% on the Roche Bobois scope alone (excluding Cuir Center).
Roche Bobois SA has reached a significant milestone since 2021 and confirms, with this high level of business volume, the change in size of the Group. At the same time, the Company is pursuing its strategy of targeted integration of franchised stores, such as the three integrated stores in the United States (Houston, Dallas and Atlanta) and the acquisition in France of 13 stores in the North of France and in Brittany.
“These highly accretive acquisitions for the Group will once again contribute to the increase in volumes and profitability for the next financial year,” the company said.
“Finally, the order portfolio as of December 31, 2022 continues to grow and amounts to €170m (+€11m compared to December 31, 2021). All of these very positive elements confirm the Group for further growth in its turnover in the first half of 2023.
“Revenue for the fourth quarter of 2022 amounted to €102.3m compared to €91.6m in 2021, representing solid growth of +11.7%, higher than the Group’s expectations. The United States/Canada zone achieved the strongest growth this quarter (+37.2%) with a still favourable exchange rate effect (+23.8% at constant exchange rates).
“The United Kingdom and other Europe zones recorded growth of +22.8% and +14.7% respectively, thanks to the very good level of business volume in previous months and the still sustained pace of deliveries in the fourth quarter.”
The UK posted revenue of €24.7m compared to €16.5m at December 31, 2021, and achieved the strongest growth this financial year at +49.6%. The United States/Canada zone came to €144.8m compared to €101.3m, up very strongly by +43% at current exchange rates, amplified by a favourable exchange rate effect. “This remarkable performance is explained by the still very strong appeal of the Roche Bobois brand and its luxury positioning, which was reflected in commercial activity for the year, and by the very sustained rate of deliveries over the year,” the company added.
Roche Bobois in France achieved revenue of €112.1m in 2022, up +9%, a level that remains “solid despite the high comparison base in 2021”, while Europe (excluding France and the United Kingdom) achieved annual revenue of €75.2m compared to €62.9m, a significant increase +19.6%, driven in particular by Germany (+29.5%), Spain (+36.9%) and Portugal (+40.6%).
At the end of December 2022, Roche Bobois SA had 333 stores, including 255 Roche Bobois stores (including 110 owned and 145 franchised) and 78 Cuir Center stores (including 19 owned and 59 franchised).
During the year it opened eight stores, with two owned in Lugano, Switzerland, and Sarasota, USA, as well as six franchises in China, including Chengdu, Heifei, Kunming, Shenyang, Zhuhai and Xuzhou.