E-commerce retailer Spreadshirt sees revenues soar
Spreadshirt, an e-commerce company offering print-on-demand services for clothing and accessories, has attributed a staggering increase in revenues and profitability to its success in Germany, the US and France.
2018 was a good year for the Leipzig-based company, with EBITDA rising to $11.7 million, up 23.3% compared to the previous year and total revenues growing by 7.1% to $130 million.
“Spreadshirt achieved something in 2018 that many of our competitors are failing to do,” said CEO Philip Rooke in a statement.
“We have sustainably increased our profitability. We’ve been able to drive success for our partners and ourselves through our focus on technology and service improvements. By investing in other companies and new printing technologies, we will further strengthen our market position as the leading platform for self-expression”.
The online platform allows users to design their own t-shirts or choose from a selection of tops created by independent designers.
5.5 million printed products were shipped to 177 countries in 2018, with Germany, the US, France, Scandinavia and north-western Europe accounting for the largest share of sales.
Mobile traffic increased by 17.7% and almost half of all orders were placed via mobile phones and tablets, Spreadshirt said.
More than 100,000 designers and shop owners are using the platform to create custom clothing and accessories.
This week, the company also announced plans to invest $10 million in new printing technology over the next two years to meet customer demand. This is part of several projects aimed at supporting its international growth, including launching new printing services on polyester sports clothing.
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