Redbubble Pushes into Europe

By Julian Thumm | 16 Aug 2016

Australian online creative marketplace Redbubble is continuing its international push, announcing the opening of a European head office in Berlin.

Online creative marketplace Redbubble has announced that will be opening its first European office in Berlin in early 2017.

The Berlin office marks a period of rapid international expansion for the company, which floated on the ASX in May this year.

Europe is currently Redbubble’s fastest growing region and second-largest market, accounting for 27 percent of company sales. While the Americas accounts for the largest portion of company sales — at 65 percent — Chief Operating Officer Barry Newstead believes the European market has the potential to be as big as its US division.

“Building Redbubble’s European presence is a strategic priority, and we are making excellent progress,” he said.

The Berlin office is expected to house about 20 staff initially, and will provide support to independent artists and customers, drive regional marketing and manage the coordination of local fulfilment partners.

As part of its push into Europe, Redbubble has also recently launched German, French and Spanish language versions of it website.

“The launch of German, French, and Spanish sites mark a milestone in our company’s continued focus on international growth. The localised sites and investment in Europe-based fulfilment to speed up shipping are key steps in our efforts to provide a localised marketplace,” Newstead said.

Since making a strong debut on the ASX, growing around 11 percent in its first few days of trading, Redbubble shares have fallen in the past few months. Shares currently sit around $1.12 at the time of writing, after being issued at $1.33.

Screen Shot 2016-08-16 at 11.18.06 am

However, Newstead said the company is not focused on share prices.

“We’re building a business that’s focused on long-term value and we have been forever. The fact we’re a listed company does not change that,” he told the Financial Review.

Together with international expansion, the company is also looking to expand its product range to continue driving growth.

 

0 Comment

Leave a Reply

Your email address will not be published. Required fields are marked *