Barcelona, Spain – February 28, 2019 – Openbravo, the global cloud-based omnichannel platform vendor for agile and innovative retailing, today announced its results for the full year ending December 31, 2018. Openbravo experienced exceptional business momentum during 2018 with a stunning +70% annual growth in its retail software subscription bookings.
Strong growth driven by Openbravo Cloud
Openbravo achieved solid growth across all revenue lines, led principally by its main client group of mid-sized and larger specialty retailers as well as the market traction that the Openbravo Cloud offering has generated with new and existing customers alike.
Openbravo confirmed important new projects and strengthened its strategic partnerships with key long-time clients like Decathlon and Cirque du Soleil. The year has been also very positive in terms of new customer wins including iconic new names such as Toys “R” Us, which selected Openbravo for the revamp of its 61 stores in Spain & Portugal. Another good example is Groupe Rand of France which selected Openbravo to replace Columbus, its legacy system, with the aim of improving the customer experience across its 43 stores in France, Spain and Italy belonging to its renowned Lollipops and Balaboosté brands.
Growing interest from large retailers running SAP
Openbravo also detected growing and strong interest in its retail solution from large retailers running SAP enterprise software, specially after achieving the official certified integration of the Openbravo Commerce Suite with SAP Applications. The integration of the two platforms allows larger retailers to continue to use SAP as their back-office system while enjoying the benefits of Openbravo’s best-of-breed retail platform, which provides comprehensive end-to-end mobile-enabled and cloud-ready omnichannel capabilities for retailers seeking faster innovation and greater business agility.
Acceleration of the international expansion
2018 was also important for international growth of the company with two new office openings. First, Openbravo inaugurated an office in Lille, France in June, led by a highly experienced team that came from Cylande and Raymark. Their objective is to reinforce Openbravo’s position in the French market and facilitate the expansion into Northern European countries. Second, Openbravo opened an office in Dubai, UAE in September, to support company growth in the Middle East and offer enhanced service to existing retail customers in the region – like Sharaf DG and Organic Foods & Café – which are already using Openbravo’s omnichannel solution.
“This excellent performance in 2018 consolidates our positioning and illustrates our determination to become a market leader in the retail software space. The completeness and flexibility of our omnichannel platform give us a tremendous competitive advantage over other software vendors and thanks to new functional enhancements, such as the certified integration with SAP, we are becoming more and more the preferred option for larger companies to transform their retail operations. Openbravo Cloud is key to our future as it enables us to continue to accelerate sales and so achieve significantly more revenue and profits, and it is instrumental in keeping client satisfaction high.” said Marco de Vries, CEO of Openbravo.
And in 2019
In addition to building on the strong results in 2018, company focus for the current year will be on maintaining exceptional client satisfaction and putting more emphasis on accelerating growth, both by continuing to win new names in existing markets as well as with selective office openings to further support its increasingly global business footprint.