Lauritz.com Group A/S is a fast growing, e-commerce company that provides quality auctions online. Lauritz.com is currently the biggest auction group in the Nordics. In 2019 Lauritz.com showed an auction turnover of DKK 723.2 million, net revenue of DKK 220.2 million and an EBITDA of DKK 7.7 million. The company is listed on the Nasdaq First North Growth Market Premier Stockholm.
Lauritz.com has decided to use the auction market as a platform to capitalize on the trend of digitalization and online trading. The rational for choosing this market is that the auction house market is immature when it comes to digitalization. Most items are still sold on local physical auctions despite the trend where consumers buy online. The physical auction houses have not yet reached the mass market’s buying power, despite a trend in the western world to buy used items. The auction house market is fragmented and local, both from a sourcing perspective and from a sales perspective.
These combined factors provide an excellent opportunity to consolidate the sourcing of products and through one platform expose locally sourced products to a global market.