Westwing expands to Portugal.

EQS-News: Westwing Group SE / Key word(s): Expansion
Westwing expands to Portugal.

24.05.2024 / 13:53 CET/CEST
The issuer is solely responsible for the content of this announcement.

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Munich, 24 May 2024 // Westwing, Europe's #1 in Beautiful Living e-commerce,
proudly announces its expansion into the Portuguese market, launched on May
22nd. With a revenue of EUR429 million in 2023, Westwing continues its growth
trajectory by entering its 12th European market. This marks the first new
market expansion since 2014, reflecting Westwing's strategic focus on
leveraging its successful business model across Europe. It is also the first
country to operate on Westwing's new mostly software-as-a-service based
technology platform.

"We aim to not just enter but become a part of Portuguese homes, inspiring
and exciting them throughout this journey," states Andreas Hoerning, Chief
Executive Officer at Westwing. "With our expansion to Portugal, we want to
strengthen our position to become Europe's leading premium one-stop
destination for Home & Living."

Portugal presents a significant opportunity for Westwing, with a growing
home and living market valued at approximately EUR 2.2 billion. Despite a
strong retail presence, only 25% of purchases are currently made online, a
figure expected to rise to 48% by 2028. This indicates a substantial
opportunity, responding to a Design Lovers savvy demand (local & expats),
driven by an increase in urban real estate developments.

Westwing is committed to listening to Portuguese customers and continually
enhancing the brand experience. The online offering will also include
selected local brands, enriching its appeal to the target audience with a
diverse portfolio of approximately 200 premium design brands.

By entering the Portuguese market, Westwing reaffirms its dedication to
Beautiful Living, aiming to inspire and excite homes across Europe with its
customer-centric approach and unparalleled design expertise.

Westwing's Annual General Meeting is scheduled for 19 June 2024.

For more information, please visit the Westwing Investor Relations website:
https://ir.westwing.com

About Westwing

Westwing is Europe's #1 in Beautiful Living e-commerce, with EUR 429 million
revenue across 11 countries in 2023. The premium one-stop destination for
Design Lovers is offering a unique brand experience with a curated
assortment of the Westwing Collection and the best design brands. The
integrated platform combines Shop, Club Sales, offline Stores, B2B services
and Westwing Studio. The team consists of 1,700 professionals working
together towards a shared purpose to "excite people to create homes that
unlock the full beauty of life". Founded in 2011, Westwing is headquartered
in Munich and went public on the Frankfurt Stock Exchange in October 2018.

Disclaimer

Certain statements in this communication may constitute forward looking
statements. These statements are based on assumptions that are believed to
be reasonable at the time they are made, and are subject to significant
risks and uncertainties. You should not rely on these forward-looking
statements as predictions of future events and the Company undertakes no
obligation to update or revise these statements. The Company's actual
results may differ materially and adversely from any forward-looking
statements discussed in this press release due to a number of factors,
including without limitation, risks from macroeconomic developments,
external fraud, inefficient processes at fulfilment centres, inaccurate
personnel and capacity forecasts for fulfilment centres, hazardous material
/ conditions in production with regard to private labels, lack of innovation
capabilities, inadequate data security, lack of market knowledge, risk of
strike and changes in competition levels.

Contact
Westwing Group SE
Investor Relations
E-Mail: ir@westwing.de


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24.05.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS
News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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   Language:       English
   Company:        Westwing Group SE
                   Moosacher Straße 88
                   80809 Munich
                   Germany
   Fax:            +49 (89) 550 544 445
   E-mail:         ir@westwing.de
   Internet:       www.westwing.com
   ISIN:           DE000A2N4H07
   WKN:            A2N4H0
   Listed:         Regulated Market in Frankfurt (Prime Standard);
                   Regulated Unofficial Market in Berlin, Dusseldorf,
                   Hamburg, Munich, Stuttgart, Tradegate Exchange
   EQS News ID:    1910905

End of News EQS News Service
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1910905 24.05.2024 CET/CEST