Revenue at Irish Fairy Door firm hits €2.7m
Revenues at the Irish Fairy Door Company last year increased by 50pc, to a record €2.7m. The company, which only started trading from its Dublin HQ in August 2013, has now sold 500,000 fairy doors worldwide.
Statistically, every second child in Ireland now has a fairy door in their home. Company co-founder and director Niamh Sherwin Barry said yesterday that the company was happy with its progress.
"Our brand is growing globally, our customer base is growing and we are finalists in the EY Entrepreneur of the Year competition," said Ms Sherwin Barry.
Ms Sherwin Barry was commenting on new accounts for the Irish Fairy Door Company that show that the company's accumulated losses last year increased by €572,462 - going from €312,659 to €885,121.
Ms Sherwin Barry attributed the losses to "a significant investment into expanding our markets globally into USA, Canada, UK and Australia".
"We also invested heavily in the development of new product such as the Worry Plaque and other add-on products. We believe this investment in our brand, product and market will, long term, have a significant benefit to the company.
"We have seen early results of this investment in 2017 through significant sales growth online and huge interest in our products from US retailers. We are preparing for a really busy Q4."
The firm employs 15 and staff costs last year increased from €638,086 to €718,915.