Online furniture retailer Wayfair’s UK and European revenue climbed by over 41 per cent last year.

The US-owned ecommerce giant’s Irish holding company, Wayfair Stores, posted sales of €34.8m, up €10.2m, in the year to end December.

Wayfair Stores’ turnover reflects its furniture, lighting and homeware sales output in the UK, Ireland and Germany, with the former thought to represent a substantial share of sales.

Wayfair has subsidiary companies in London (Wayfair UK) and Germany (Wayfair GmbH) that provide sales and marketing services to their Galway registered parent company.

The new accounts highlight the depth of investment Wayfair—headquartered in Boston and listed on the stock market in the US—is investing in growing its UK and Europe business.

Wayfair Stores posted a loss of €13.4m, up from €3m in 2013. Higher administrative costs—€20.5m as opposed to €9.1m—were behind the widening of its losses, though gross margin narrowed 440 basis points to 20.2 per cent.

* indicative sterling figure in the headline based on currency conversion on Monday 9th November 2015