Showroomprivé lost €31M in 2025 — the flash-sales model ran out of steam

On 29 April 2026, SRP Groupe published full-year 2025 results that read as a verdict on the flash-sales format: a net loss of about €31 million, revenue down 13%, and operating cash flow swinging from +€14.2 million in 2024 to -€0.7 million. The sales decline continued into early 2026, with the Q1 update published the same day showing the erosion carrying over.

The response was a restructuring plan involving up to 121 job cuts, alongside the divestment of the majority stake in The Bradery, the premium second-hand marketplace the group had built up — consolidated only from 1 January to 19 December 2025 before leaving the perimeter. CEO David Dayan called 2025 'a demanding year' and said the group had chosen to anticipate and adapt its model to 'remain in control of its future'.

The history gives the shape of the case. Showroomprivé, founded in 2006 and floated in 2015, was one of the two French pioneers of members-only flash sales — time-limited discounts on brand stock. That model depended on brands needing a discreet channel to clear inventory, and on shoppers accepting the wait. Peer-to-peer resale platforms and instant fast fashion took both pillars: brands got Vinted and Vestiaire Collective, shoppers got next-day delivery.

What remains is a smaller, cost-cut marketplace in a market that moved on — trying to adapt, as its CEO put it, while the sales keep falling.