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Inside Kogan’s Milestone Crushing Start to 2021
Kogan has hit a new milestone of reaching three million active customers and increases its Gross Sales to over $300 million in the first half of FY21.
In a report released by the retailer, Kogan reached Gross Sales of $638.2 million, up 97.4 percent on the prior year. Furthermore, the pureplay retailer experienced a sky-rocketing revenue of $414 million, up 88.6 percent compared to 2020.
Gross Profit was reported at $112.9 million, up 126.2 percent om the prior year, and reported an EBITDA increase of 184.4 percent to $51.7 million. Furthermore, NPAT grew 164.2 percent to $23.7 million and adjusted Earnings Per Share grew 211.7 percent to $0.35 per Share.
“We launched Kogan.com to change the retail industry nearly 15 years ago, and we would’ve been cheering if we helped 3,000 customers that year,” said Ruslan Kogan, the Founder and CEO of Kogan.
“So even though well over three million customers used Kogan.com in the last 12 months, we feel like we’re just getting started. We’re not just focused on today or tomorrow, but how we’ll continue to delight all our customers on our 30th birthday.”
Excluding Mighty Ape, Kogan reported a whopping three million active customers on its platform, increasing 76.8 percent from 31 December 2019. Its recently acquired brand, Mighty Ape, also experienced an increase in active customers, growing to 719,000 by the end of December 2020.
Mighty Ape is a New-Zealand based online retailer, with a core focus on toys, gaming and entertainment. The online retailer continues to be integrated into the Kogan Group.
Seven of the ten biggest trading days for Kogan occurred over the period surrounding Black Friday. The company recorded Gross Sales of $638.2 million, up 97.4 percent compared to the year prior.
“The rapidly expanding network effect at Kogan.com means that as we attract more customers, we’re able to make the products and services they need even more affordable and accessible,” said Kogan.
“I love hearing feedback from customers that have shopped with us many times over our 15-year journey about how the experience keeps getting better and better – this is what makes our team jump out of bed in the morning. The investments we’re making into Kogan.com today are to ensure that we can continue to delight millions of customers in more and more ways.”
Kogan plans to make significant improvements to its logistics network, speed of delivery, expanding its product range and improved competition on its platform. This aims to drive a better experience for its rapidly growing customer base.
“As we enter the half-way mark of this critical financial year of growth, I’d like to thank the Kogan.com team for their tireless work to delight our customers. They are the most talented and passionate team in eCommerce and they’re helping to completely change our industry and the customer experience for the better,” Kogan said.