According to the FT 1000-ranking 2023, which ranks the fastest-growing European companies, 95 are e-commerce businesses, most of which are from Germany, such as WLDOHO and KoRo.
Italy (24) and France (12) are also well-represented.
The FT 1000 is an annual ranking of the fastest-growing companies in Europe. Only this week, the Financial Times and Statista released the seventh edition of the FT 1000. The order is based on revenue growth between 2018 and 2021.
The list includes 95 companies in the e-commerce industry, a figure that keeps growing as more and more businesses choose to jump into the e-commerce business model.
Germany ranks atop 41 fastest-growing e-commerce companies, among which you can count the brand WLDOHO (no. 56) and food retailer KoRo (no. 70).
Although the most ranked companies are from Germany, the Netherlands dominates the top-5 of e-commerce. Among the frontrunners are British marketplace Onbuy, Dutch return service Returninsta and Italian fashion retailer Baroni.
1. Onbuy, United Kingdom (no. 25)
2. Returninsta, the Netherlands (no. 29)
3. Stoov Heating Cushions, the Netherlands (no. 36)
4. Baroni, Italy (no. 40)
5. Matt Sleeps, the Netherlands (no. 41)
Because the ranking is based on revenue growth in the three years to 2021, it is severely impacted by Covid-19 restrictions, the Financial Times writes. With regards to e-commerce, “lockdowns were a boon to business”.
This is in stark contrast with today; the ranking writes: “As Russia’s war in Ukraine continues and countries across Europe face a threat of economic recession, these drags on growth [lower venture capital-investment] are set to increase.”
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