Notino closes financing round – 280 million for expansion abroad. Notino, a major online retailer of perfumes and cosmetics in Europe, based in the Czech Republic, has closed a financing round. The company was able to secure a 280 million euro loan from four major Czech banks. With this money, Notino plans to expand abroad, including a logistics center in Poland and launches in Serbia, Norway and Turkey.
Notino closes financing round – 280 million for expansion abroad
For the logistics center in Poland alone, investments of 25 million euros are planned to expand warehouse capacities. In addition, new markets are to be opened up next year with Serbia, Norway and possibly Turkey. This financing is the largest financial injection Notino has received to date, a great vote of confidence in difficult times.
Joint financing by four major Czech banks
Notino’s CFO, Jakub Šedý, explains that this is a joint financing involving the four major Czech banks: Česká spořitelna, Citibank, Komerční banka and ČSOB. Although it was challenging to negotiate the loan in the current market environment, it was the most advantageous option for the company.
Banks are increasingly questioning the business models of companies they invest in, so financing is becoming more difficult every year. Nevertheless, Notino plans to continue growing through innovation, automation and expansion.
Notino: sales of almost 1 billion euros – profit: 24 million euros
Last year, Notino achieved sales of almost 1 billion euros and a profit of just under 24 million euros. Next year, the company plans to build a logistics center in Poland that will be able to handle 70,000 orders per day. No new national branches have been opened in the last two years, but there are plans to open in Norway and Serbia in the coming year. Notino is growing despite declining online and mail order sales. In the first quarter of this year, the company reported an increase of nearly 30 percent year-over-year.
Notino is, by its own account, the largest online retailer of perfumes and cosmetics in Europe. The company was founded in 2004 in the Czech Republic and operates in 27 European markets. It operates 26 branches and has more than 24 million customers. In the last fiscal year, Notino achieved sales of more than one billion euros.
[Text: epcnews/image: Notino]