Spreadshirt has turned over €100m (£88.2m) for the first time. The print-on-demand T-shirt company says that in its latest financial year global revenue reached more than €107m (£94.3m), including €4.7m (£4.1m) in the UK, while earnings before interest, tax and asset writedowns came in at €8.2m (£7.2m). The company also saw its first t-shirt millionaire, a European partner who earned more than €1m in commission when shoppers bought their designs.
More than half (55%) of traffic came from mobile devices during the year, with that traffic 4.6% up on the previous year. Forty per cent of orders were placed via mobile, a figure that was 36% up on the previous year.
Growth also came as more designs were uploaded to the website, at an average of 283,000 a week, and 25% up on the previous year. Marketplace partners rose by 77% in number, and were collectively paid €16.8m.
The company put its success down to a strategy of simplification, investment in strategic technology and a focus on the competitive US market.
“2018 has been my favourite year yet at Spreadshirt,” said Philip Rooke, chief executive of Spreadsheet. “We’ve grown revenue, broken our €100m target, achieved record profits and increased content on the site through our 80,000 active sellers. We’ve also minted our first T-shirt millionaire. Growth in the UK has been heartening and we’ve achieved 50% market share growth in the USA.”
He added: “We’re continually adding new products and shipped close to five million printed products in 2017. This year we are making an aggressive move to go beyond apparel and accessories and enter into the new wall prints sector.”
Spreadshirt, founded in 2002, now sells in 12 languages from five production sites. In 2017 it shipped to 166 countries, including new markets of Burundi, Central African Republic, Eritrea and Comoros.
Image courtesy of Spreadshirt.
