Lockdowns prompted a boom in home baking , leading to shortages of key ingredients such as flour, but other home grocery products were perhaps less predictable — such as the resurgence in boxed wine.
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Jasper Jolly. The people on the frontline in our stores, factories and warehouses. Without them we would not have been in a position to continue trading during the lockdowns. All Made staff, barring senior management, are receiving the same number of share options, which vest in equal tranches over the next three years. Employees can sell the shares at the same time as other investors in the private equity-backed company. Chainieux said the three-year scheme indicated a possible future financial transaction, for example a sale.
The year-old company, which was co-founded by Ning Li and the serial entrepreneur Brent Hoberman , has grown rapidly in a specialist area of the market that many analysts thought would struggle to compete with stores, where expensive purchases such as sofas and beds are road-tested for comfort. With its designer-looking sofas and lamps pitched at high street customers, Made has traditionally been favoured by young professionals.
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However, that changed during the lockdown as orders came in from suburban households as well as consumers in the provinces. The retailer now boasts 1 million customers on its books. Shoppers are also spending more of their disposable income on items for their homes, with the market leader Ikea reporting unprecedented demand for its home furnishings. The impact of government Covid pandemic restrictions is also translating into sales.
As in many areas of spending there has been a huge tilt towards the web this year. The question now is whether shoppers will return to high streets and shopping centres in big numbers once the pandemic is over. Retail industry.
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