- Very strong growth in the Marketplace: revenue up +41% in the first half of 2026, the Group's new growth driver
- Positive momentum in international business with a sharp acceleration in Q2 2026
- Return to growth in June 2026 (+2.2% GMV vs. June 2025), reflecting the gradual improvement in sales momentum
- The half-year was again impacted by a challenging consumer environment and internal transformations
- H1 2026 business volume showing gradual improvement: GMV down -5.2% and revenue down -8. 9%, despite a return to growth in Q2 2026
- Average order value temporarily impacted (-1.7%) amid a climate of restrained consumer spending , driven by economic and geopolitical uncertainties
La Plaine Saint Denis, France, July 23, 2026, 6:00 p.m. CEST – Showroomprivé (SRP Group), a European group specializing in flash sales, has published its revenue figures for the first half of its 2026 fiscal year.
David Dayan, Chairman and CEO of Showroomprivé, stated: “The first half of 2026 was marked by a consumer environment that remained very challenging for the entire sector and the ongoing implementation of a major internal reorganization, particularly within the Beauty and Home & Tech divisions, which reported business levels below expectations.
Despite this challenging environment, we have continued to drive Showroomprivé's transformation with determination and have seen a return to growth during the second quarter of 2026, a trend that seems to be continuing in July.
Our Marketplace continues to grow at a very strong pace (+41%), our international business is expanding, and sales momentum has improved quarter after quarter in core sectors that were previously in decline and that we are improving every day.
The expansion of our sales, product, and technology teams, combined with changes in our organization, should enable us to accelerate our business in the second half of the year.
As a sign of my confidence in the Group's ability to return to a sustainable growth trajectory, I recently increased my stake in Showroomprivé, convinced of the Group's potential to create value over the medium and long term.
Our ambition is not merely to return to our historical level of business. We are building a Group that is more profitable, more international, more technology-driven, and better positioned to create sustainable value.”
BREAKDOWN of revenue[1]
| (in millions of €) | H1 2025 | H1 2025 | H1 2026 | CHange 26/25 | ||
| in % | ||||||
| With The Bradery | Restated w/o The Bradery | Without The Bradery | Without The Bradery | |||
| Gross Merchandise Value (GMV) | 439.7 | 387.1 | 367.0 | - 5.2% | ||
| Internet Revenue, France | 211.1 | 175.5 | 154.1 | - 12.2% | ||
| International Internet Revenue | 58.7 | 58.7 | 61.5 | +4.7% | ||
| Total Internet Revenue | 269.8 | 234.2 | 215.6 | - 7.9% | ||
| Other revenue | 5.8 | 5.8 | 3.0 | - 48.5% | ||
| Net revenue | 275.6 | 239.9 | 218.5 | - 8.9% |
The first half of 2026 highlights three encouraging trends: the very strong growth of the Marketplace, the increase in international revenue, and the sequential improvement in business activity between Q1 and Q2. Nevertheless, in a consumer environment that remains constrained, Showroomprivé generated a gross merchandise volume (GMV) of €367.0 million in the first half of its 2026 fiscal year, down -5.2% compared to the same period in 2025. Revenue also declined by -8.9% compared to 2025, a steeper decline than that of GMV, primarily due to the business mix.
Among event-based e-commerce players, Showroomprivé increased its market share[2] to 14.5% in the first half of 2026, compared to 14.0% in the first half of 2025. The flash sale market continues to be driven by two major trends: new entrants to the market (international low-cost platforms and secondhand retailers) and consumers prioritizing their spending in an uncertain economic environment.
Across its core businesses, the Group saw an overall decline in GMV during the first half of the year:
- The Fashion division, with GMV growth of +0.9%, showed a slight improvement compared to 2025 (-18% excluding The Bradery), driven by strong performance in Footwear (+19%) and the continued rebound in Ready-to-Wear (+2%) but still saw declines in certain sectors such as jewelry (-18%) and sports (-7%). Against this mixed backdrop, the Group is continuing its initiatives, drawing on sales teams reinforced by more senior and experienced professionals.
- The Home & Tech division has been hit hard, with a -24% decline; home appliances (-40%) and furniture
(-17%) suffered the sharpest declines, still hampered by low-cost platforms, the rise of refurbished goods, and the decline in new housing construction. A management change is currently under consideration to reverse the trend starting in the second half of 2026. - With a -39.8% decline over the period, the Beauty division recorded the sharpest drop in business.
SRP Services: In the first half of the year, revenue for the SRP Services division declined by -18.3%, driven in particular by the decline in the Beauty and Home & Tech business units. Nevertheless, demand for media space sales remains particularly strong, and the division is accelerating efforts on new, innovative growth drivers designed to enhance the offering for brands and support the business's return to growth.
Beauté Privée: The migration to Shopify represents a fundamental transformation of the technology and commercial platform. Its benefits are expected to materialize gradually, as customer journeys, management tools, and CRM activations are enhanced. A strategic review of the division is currently underway, and managerial changes are also expected to ensure the execution of the turnaround plan. All initiatives undertaken in the areas of technology, sales, and customer engagement are intended to support a gradual improvement in performance by the end of fiscal year 2026.
Across its growth drivers, the Group is posting encouraging results:
The Marketplace (GMV up +40.9% compared to H1 2025) has continued to grow; since its launch in Belgium, Portugal, and Spain in 2024, these countries continue to contribute to growth in 2026.
The Travel & Leisure division continues to stabilize at +1% in a market that is clearly down due to the conflict in the Middle East. Our diversified offering, focused on experiences in France and on European medium-haul routes, has helped mitigate these impacts.
SEQUENTIAL performance of 2026 operations
| (in millions of €) | Q1 2026 | Q2 2026 | Change Q2/Q1 (%) | ||
| Gross Merchandise Value (GMV) | 179.2 | 187.9 | +4.8% | ||
| Internet Revenue in France | 75.7 | 78.4 | +3.7% | ||
| International Internet Revenue | 28.0 | 33.4 | +19.2% | ||
| Total Internet Revenue | 103.7 | 111.9 | +7.9% | ||
| Other revenue | 1.6 | 1.4 | -11% | ||
| Net revenue | 105.3 | 113.3 | +7.6% |
Looking at the first half of the year in detail, business growth sequentially between the first quarter (Q1) and the second quarter (Q2) was positive: +4.8% for GMV (+3.5% in 2025 excluding The Bradery) and +7.6% for net revenue (+14.7% in 2025 excluding The Bradery).
This improvement built up month by month. The Group's GMV recovered steadily throughout the second quarter compared to the same period in 2025: -9.7% in April, -5.5% in May, and then +2.2% in June, marking a return to growth by the end of Q2 2026. This increase of more than 11 percentage points over three months was achieved amid consumer caution stemming from the war in the Middle East and its repercussions in France. It reflects the gradual ramp-up of the initiatives undertaken and is the primary indicator of the ongoing recovery.
KEY PERFORMANCE INDICATORS
| H1 2025 | H1 2025 | H1 2026 | Change 26/25 | |||
| in % | ||||||
| With The Bradery | Restated w/o The Bradery | Without The Bradery | Without The Bradery | |||
| Gross Merchandise Value (GMV) (millions of €) | 439.7 | 387.1 | 367.0 | -5.2% | ||
| New buyers* (in millions) | 0.45 | 0.36 | 0.33 | - 8.0% | ||
| Buyers** (in millions) | 2.14 | 1.85 | 1.73 | - 6.5% | ||
| of which loyal shoppers*** | 1.60 | 1.48 | 1.38 | - 6.5% | ||
| As a % of total number of buyers | 75% | 80% | 80% | 0 pts | ||
| Number of orders (in millions) | 4.8 | 4.2 | 4.1 | -3.6% | ||
| GMV per buyer (€) | 205.3 | 209.6 | 212.6 | +1.4% | ||
| Average number of orders per buyer | 2.2 | 2.3 | 2.4 | +3.1% | ||
| Average order value (€) | 92.2 | 91.8 | 90.2 | -1.7% |
* Members who placed their first order during the period
** Members who placed at least one order during the period
*** Members who placed at least one order during the period and at least one order in previous years
The Group attracted 329,000 new first-time buyers in the first half of 2026. The repeat buyer rate remained stable at 80%. The number of orders declined by -3.6%, and the average order value decreased by -1.7%.
OUTLOOK FOR 2026
The monthly recovery in GMV growth observed throughout Q2 reinforces the Group's confidence in the execution of its transformation plan, while maintaining a cautious approach given the ongoing challenging consumer environment.
In the second half of the year, Showroomprivé will focus its efforts on strengthening the teams and governance of its core businesses, particularly Home & Tech, Beauty, Media, Travel, and International. The addition of experienced professionals should improve the quality of commercial execution and accelerate the turnaround plans already underway.
At the same time, the Group will continue to transform its product offerings and customer experience, with a particular focus on the Marketplace, international operations, Social Retail Media, and the revitalization of its traditional categories. Organizational changes within the “Products and Customers” and e-commerce functions aim to strengthen alignment between commercial strategy, production, UX, and UI.
Efforts to reduce operating costs and overhead expenses will be pursued with discipline. Combined with the strengthening of teams and the acceleration of growth drivers, these measures should enable the Group to actively prepare for its rebound and gradually return to a path of sustainable value creation.
SHAREHOLDER RELATIONS
To strengthen its close relationship with its individual shareholders, Showroomprivé has established a Shareholder Advisory Committee. This Committee, whose first meeting will be held in late September 2026, will aim to foster constructive shareholder dialogue between the Group's Executive Management and its individual shareholders and to encourage regular, in-depth, and high-quality exchanges. The minutes of this first meeting in late September will be shared shortly.
Upcoming Updates
Publication of 2026 half-year results: September 24, 2026
FORWARD-LOOKING STATEMENTS
This press release contains only summary information and is not intended to be comprehensive.
This press release may contain forward-looking information and statements regarding the Group and its subsidiaries. These statements include financial projections and estimates and their underlying assumptions, statements regarding plans, objectives, and expectations concerning future operations, future products and services, and statements regarding future performance. Forward-looking statements can be identified by the words “believe,” “anticipate,” “target,” or similar expressions. Although the Group believes that the expectations reflected in such forward-looking statements are reasonable, investors and shareholders of the Group are cautioned that forward-looking information and statements are subject to numerous risks and uncertainties, many of which are difficult to predict and generally beyond the Group's control, which could result in actual results and events differing significantly and adversely from those communicated, implied, or indicated by such forward-looking information and statements. These risks and uncertainties include those discussed or identified in the documents filed or to be filed with the Autorité des marchés financiers by the Group (in particular those detailed in Chapter 3 of the Company's reference document). The Group makes no commitment to publish updates to forward-looking information, whether as a result of new information, future events, or any other factor.
About Showroomprivé
Showroomprivé is a leading European player in online flash sales, known for its innovation and specialization in fashion. Showroomprivé offers a daily selection of over 3,000 partner brands via its mobile apps and website in France and six other countries.
Listed on the Euronext Paris market (ticker: SRP), Showroomprivé generated a gross merchandise volume (GMV) of nearly €900 million in 2025, and net revenue of €560 million. The Group is led by David Dayan, its founder, and employs over 1,100 people.
For more information: http://showroomprivegroup.com
Contacts
| Showroomprivé | NewCap |
| Benoît Jacheet, Group CFO investor.relations@showroomprive.net | Financial Communications Thomas Grojean |
| Anthony Alfont Relations.presse@showroomprive.net | Financial Media Relations Gaelle Fromaigeat, Nicolas Merigeau showroomprive@newcap.eu |
[1] This data has not been audited or reviewed by the auditors
[2] Source: Fox Intelligence Retail (excluding The Bradery)