Online furniture store Made handing out share bonuses worth more than £10,000 to each of its staff thanks to booming sales in pandemic
Online furniture store Made is handing out share bonuses worth more than £10,000 to each of its staff thanks to booming sales in the pandemic.
Made, co-founded by travel website Lastminute.com entrepreneur Brent Hoberman and Ning Li, sells designer-looking sofas which are popular with millennial shoppers.
Booming: Made has recorded a 200 per cent rise in sales of desks and sold 10,000 sofa beds in a week, after the three household Christmas bubble rules were announced
It was already growing rapidly before the pandemic, recording 22 per cent revenue growth to £212m, and sales have boomed in 2020 as customers spend more on their homes and makeshift offices.
Made has recorded a 200 per cent rise in sales of desks and sold 10,000 sofa beds in a week, a 170 per cent increase, after the three household Christmas bubble rules were announced.
Its success has allowed it to pay the staff bonus, estimated to be equivalent to around six months’ salary for its shop floor, customer service and warehouse workers.
In total, 650 staff below management level will be eligible for the share options. Chief executive Philippe Chainieux said: ‘The share options are a way of saying thank you to colleagues for their past efforts.’