Allegro, one of the largest eCommerce websites in Europe, reported its revenue reached 5.35 billion Polish zloty (about $1.3 billion) last year, up nearly 34% compared to 2020, according to the company’s fourth-quarter earnings press release.
The Polish company with 13.5 million customers and a formidable rival to Amazon.com in Poland, predicted it will repeat the growth rate in 2022.
“Last year was all about significant progress in preparing Allegro for future growth,” said CEO Francois Nuyts in the release.
Its customers, nearly half of all the internet users in Poland, can select from more than 250 million products from 133,000 merchants, he added.
Among the keys to its success, Allegro said in the release, was the debut of several new features, including Allegro Pay. The platform’s buy now, pay later (BNPL) payment method originated 2 billion zloty (about $476 million) in loans last year.
In addition, the company said it has invested in logistics and fulfillment. Today, customers can choose from nearly 50,000 pickup locations, according to the release. Allegro said it offers the largest delivery network in Poland. In 2022, the company said it plans to expand its parcel locker network to 3,000 and extend fulfillment capacity.
In November, Allegro announced the purchase of Czech online retailer Mall Group for $1 billion to create a regional platform.
The deal will see Allegro acquire Mall Group’s eCommerce assets along with the logistics assets of WE|DO from Jakub Havrlant’s Rockaway Capital investment group, PPF Group and Daniel Kretinsky and Patrik Tkac’s EC Investments.
The company said it will finance the deal, which is expected to close in the second half of 2022, through a stock-and-cash consideration. The final price may increase by as much as $57 million based on certain short-term objectives.