Record growth, but Danish marketplace still in the red after missteps

The Danish online marketplace Reshopper has ended the financial year 2023/24 with its best operating result ever. The company achieved a positive EBIT of DKK 3.6 million, driven by significant growth on the digital platform. However, the annual result ended with a loss of DKK 14.5 million after tax due to the liquidation of the subsidiary Kids Group ApS and the associated store operations.

“The overall result is of course not satisfactory, but we are very pleased with the growth we have seen in our digital business. Our online marketplace has never been stronger, and the future for Reshopper lies in strengthening our digital platform and capitalizing on the great potential that lies in second-hand shopping for families with children,” says Lasse Wulff Hansen, CEO of Reshopper in a press release.

Physical stores in the red

The store operation started two years ago as an experiment to combine physical and digital second-hand shopping, but in the spring of 2024 it was decided to close as it did not live up to expectations. The closure has resulted in write-downs, terminated leases and personnel costs, which have had a negative impact on profit for the year.

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“After working intensively with store operations for two years, we realized that the model with both digital and physical marketplaces is not working. We want to concentrate on our digital platform, where we have great success. It is a growth driver that we have seen so much success with, and this is where we need to have a clear focus going forward,” says Sales Director and largest shareholder in Reshopper Casper Blom and adds:

“The decision to close the stores was difficult, but a necessity to ensure the company’s potential is realized in the future.”

Confidence from key investor

Reshopper now focuses exclusively on the digital marketplace, which has experienced record growth in both users and transactions. In 2024, management was also strengthened with the appointment of Lasse Wulff Hansen as new CEO and Mads Dahl Andersen as Chairman of the Board. This restructuring will support the company’s new digital strategy.

Investor support for Reshopper has also been strengthened as Jesper Buch increased his stake in the company in November 2024. Buch has been a shareholder since 2017, and his increased investment signals confidence in the company’s future and growth strategy.

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“The greatest confidence in the business strategy and platform is when one of the oldest shareholders chooses to significantly increase his ownership stake. This sends a strong signal from Jesper Buch, and we are pleased with the support for the ambitious potential we want to realize”, says Lasse Wulff Hansen.

Reshopper is now a pure digital player and aims for further growth and profitability in its online marketplace, which is a favorite among Danish families with children with over 300,000 active users.

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