Social Chain confirms revenue rise ‘despite difficult market conditions’

Social Chain, which was founded in Manchester by Steven Bartlett and Dominic McGregor, has confirmed its revenue will hit €620m by the end of 2021.

The company has said the forecast has been confirmed “despite difficult market conditions” in the fourth quarter of its financial year.

The business added that its current order book is at an all-time high of €250m, “providing a sustainable basis for strong growth in 2022”.

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The update comes after Social Chain, which is now headquartered in Berlin, completed the acquisition of DS Group.

Chief executive Wanja S. Oberhof said: “The integration of DS Group is already showing first results. In the past eight weeks, DS Group and Social Chain have cooperated on many projects, closing delivery gaps and reacting flexibly to changes in demand through short-term sales campaigns.

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“In an adverse environment characterised by declining consumer confidence and supply bottlenecks, Social Chain AG was able to successfully develop its business.

“This will allow us to outperform the market in the 4th quarter as well. The order book of €250m strengthens our confidence that 2022 will also be a financial year with extremely strong growth.

“In the process, we can sustainably benefit from the DS Group product portfolio, which is also perfectly suited for direct marketing to customers.

“Together, we will actively shape the global mega trend of Social Commerce in Europe and, in future, also in the US.”

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