Kogan achieves record half-year sales and profit

Kogan’s half yearly results produced the highest half-year sales and profit on record, up 16% and 9% respectively, with the biggest Black Friday and Boxing Day sales in the company’s history.

Kogan Marketplace continued its strong growth trajectory with gross sales increasing more than 44% on the prior quarter. The exclusive brands division also grew in revenue and gross profit during the half.

In Q2 2019, Kogan introduced its Kogan First membership program offering free shipping, free upgrades to express shipping and exclusive discounts to members. Since inception, Kogan First members have received over $1 million of additional benefits.

Active Kogan customers were up more than 10% year-on-year to 1.69 million as at 31 December 2019.

Kogan founder and CEO, Ruslan Kogan said the team was proud to deliver another record half in sales and profit, while undertaking significant investments into the future of the business.

“The projects that we have rolled out in 2019 will pave the way for the business over the coming years – these include Kogan Marketplace, Kogan First, Kogan Credit Cards and Kogan Energy,” he said.

“As we introduce new sellers to the Kogan Marketplace and rapidly grow that division, we are undergoing a period of transition to an e-commerce company that is no longer constrained by inventory and capable of infinite growth without additional capital.

“We are just at the very beginning of seeing the benefits from our major investments in warehousing and infrastructure for faster delivery, in Kogan Marketplace for greater product variety, Kogan First for rewarding loyal customers and more.”

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