November 2026
Largest Consumer E-commerce Public Companies in Italy
Benchmark revenue and EBITDA valuation multiples for public comps like
Confinvest Oro, Farmacosmo, Deodato Gallery, EPH Invest and Giglio.com.
 | Confinvest Oro is an Italian dealer in physical investment gold, buying and selling coins and bars that meet international standards. It has operated since 1983 and was formerly named Confinvest F.L.; it is listed on Euronext Growth Milan as an innovative small and medium-sized enterprise. The business sells gold coins such as sovereigns, Krugerrands and Marengos and gold bars through its online shop, and offers a custody service called Confinvault and a gold accumulation plan. It also supplies daily gold quotations to Italian newspapers and financial sites. Bolaffi, the Turin collectibles group, bought a 17.53 percent stake in 2021, and in February 2026 the company acquired the precious metals trading business of Dierre, which accounted for 34 percent of first-half 2026 revenue of EUR 86.1 million. | $2 | -- | $20M | $23M | 0.3x | 9.7x | ||
| Farmacosmo is an Italian company that sells medicines, food supplements, over-the-counter products and beauty and personal-care items online, with offices in Naples. It runs the farmacosmo.it portal and a group of other web shops covering perfumery, pet care and digital health, and fulfils up to 12,000 orders a day from its own logistics base. The shares were admitted to Euronext Growth Milan in March 2022, raising EUR 20 million in the placement at a market capitalisation of EUR 75.3 million. After the listing it bought the ProfumeriaWeb perfumery portal, the Phàrmasi online pharmacy with its Messina store, a majority of Innovation Pharma, which owns two pharmacies, and Bau Cosmesi. In 2025 it sold control of Bau Cosmesi and bought out the remaining shareholder of Farmacia De Leo, ending its involvement in the physical Messina pharmacy. | $0 | -5% | $18M | $25M | 0.4x | 66.6x | ||
| Deodato Gallery is an Italian art-market group that sells modern and contemporary works, with a focus on pop art and street art, through physical galleries and an online shop. The company was founded in 2015 by Deodato Salafia, who is chairman and chief executive, and has operational sites in Stresa and Varese. It listed on Euronext Growth Milan on 25 January 2023 after a placement that raised EUR 2.15 million at a market capitalisation of EUR 15.67 million. At listing it operated 14 galleries across Italy, Belgium and Switzerland under brands including Deodato Arte, Wunderkammern Gallery, Deodato.Tech, Phygi.io and Artuu.it. It reported sales of about EUR 5.88 million for 2021, and in June 2023 it bought four trademarks to enter art publishing and art-related training. | -- | -- | $13M | $14M | 1.7x | (41.2x) | ||
| EPH Invest is an investment holding company listed on Euronext Milan that is building a diversified portfolio of equity stakes. It describes itself as an industrial and financial partner for companies with high growth potential and organises its activity in three departments: Green Philosophy, which develops and acquires renewable energy plants with a focus on photovoltaics, Future Technologies, and Special Opportunities, which takes a more financial approach with shorter horizons. Since late 2025 the investment holding Rona Limited Company has been its reference shareholder, subscribing capital increases to relaunch the company under a 2026-2031 industrial plan. In July 2026 it signed a framework agreement for 60% stakes in two student housing companies in Padua, SIRE and ARES, whose completion was postponed in September 2026 until after its integration with Fin.Mar. Holding. | $2 | +246% | $10M | $11M | 28.0x | (12.5x) | ||
| Giglio is an Italian online fashion retailer based in Milan, trading as Giglio.com. It offers more than 700 fashion and luxury brands across womenswear, menswear and kidswear to customers in over 150 countries and is an official retailer of houses such as Gucci, Bottega Veneta, Fendi, Valentino and Burberry. The company was founded by Alessandro Giglio in 2003, was first active as a television and media group, moved into e-commerce services after acquiring MF Fashion in 2016, and has been listed on the STAR segment of Borsa Italiana. It later acquired Evolve Service, Terashop and Salotto Brera to widen its e-commerce platform and distribution business. For 2025 it reported revenue of 39.5 million euros, down 14 percent from 46.2 million euros a year earlier. | $1 | -44% | $7M | $7M | 0.2x | (4.2x) | ||
| Median | $1 | -5% | $13M | $14M | 0.4x | (4.2x) |
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