Hoff Increased Revenue by 43.4% in 2017

Hoff, a chain of furniture and home goods hypermarkets, increased its revenue by 43.4% compared to the previous year — to 26.2 billion rubles.

In comparable stores to Hoff (like-for-like, LfL), sales in January and December grew by 13.8%, with Internet sales increasing 1.5 times, amounting to 3.7 billion rubles. Therefore, 14% of total revenue consisted of online sales.

In 2017, Hoff opened 11 new stores: seven hypermarkets, as well as four Hoff Home mini-stores. The amount of store visitors exceeded 12 million people.

"We will continue to increase our market share in 2018 not only through active expansion, but also by developing exclusive products, improving services, increasing operational efficiency, and introducing advanced technologies in our sales system," said Vice President and co-owner Mikhail Kuchment.

The Hoff chain is owned by the Domashniy Interier Company, which was founded in 2008 by Aleksandr Zayonts and Mikhail Kuchment. Until the middle of 2011, Hoff developed as a franchise under the international group Kika's brand name. Later, Domashniy Interier announced the chain's development under its own brand.