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Lockdown sees eShopWorld head for €1bn sales

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Opportunity: Tommy Kelly, founder of eShopWorld, says firms that deliver quickly are seeing 300pc growth

Opportunity: Tommy Kelly, founder of eShopWorld, says firms that deliver quickly are seeing 300pc growth

Opportunity: Tommy Kelly, founder of eShopWorld, says firms that deliver quickly are seeing 300pc growth

Irish e-commerce company eShopWorld says it expects sales to reach €1bn this year on the back of a surge in online shopping during the Covid-19 lockdown.

eShopWorld's technology is used by businesses to manage online sales, and clients are understood to include big brands such as Victoria's Secret, luxury fashion group LK Bennett and Nike.

Its platform enables clients to localise their online offering in up to 200 markets.

Since March, sales have consistently exceeded 2019 Black Friday peak months, the company said in a trading update. Black Friday is the name given to the Friday following Thanksgiving Day in the US, and is a traditionally busy shopping day.

If current volumes are maintained, eShopWorld expects €1bn of sales annually, or a doubling for the products sold by global brands using the platform.

Turnover at the Dublin-headquartered company jumped 34pc to €543.6m last year.

The performance was driven by sales in Europe, which are up 46pc. This market now accounts for two-thirds of transactions on the platform.

"Given its high disposable income and tech-savvy population, Europe is now seen as a major growth market by North American brands with universal appeal," the company said.

Meanwhile, earnings before interest, tax, depreciation and amortisation more than doubled to €13.5m, in a year in which eShopWorld added 16 more brands.

The company said its data analytics is "a key differentiator" as companies seek to direct product to higher demand and higher margin markets.

CEO, founder and shareholder Tommy Kelly said: "In a pandemic world, there is incredible opportunity beyond domestic channels, particularly for apparel.

"As consumers around the globe turn to e-commerce our data shows brands that are able to move quickly to deliver a localised e-commerce experience are seeing 300pc to 400pc growth in sales."

Last year the company increased its headcount by 109 to 369, mainly working in technology, product, finance and operations roles.

The firm also has offices in the US, Singapore and the Netherlands.

Irish Independent