Brosa, the upmarket online furniture brand, has been placed in voluntary administration, citing a decline in trade since Covid-19 restrictions enabled consumers to shop at physical stores again.
Last February, Brosas co-founder and CEO Ivan Lim told Inside Retail the business grew more than 100 per cent last financial year, in line with other online furniture retailers.
Fuelled both by existing customers increasing their order frequency and average order value during the pandemic, and new customers, who sought out online furniture retailers when stores were closed, the company seemed assured of success, its sales tripling.
Theres still so much growth, and we are really fortunate that we built a leading position as far as a digital-fir…
Read the full article at: https://insideretail.com.au/business/brosa-collapses-into-administration-buyer-sought-202212