ESW reports strong growth on back of direct to consumer boom
Leading direct to consumer (DTC) e-commerce solution provider for fashion brands ESW has announced revenues are set to reach $1.5bn this year, as it looks to recruit a further 500 more staff within the next three years to aid its growth.
The company predicts revenue of $5bn within three to five years with DTC continuing to boom, with growth this year coming off the back of more than 20 new global brand partners, including Gucci, Kering, EBEL, Olivia Burton, The Irish Store, Rossignol, Abercrombie & Fitch and J.Crew.
Scalability will be supported by continuing investment in sustainability, R&D, data analytics and technology development, and ESW will be expanding office presence in New York, Singapore, France, Italy, the UK and Germany.
Growth will be driven by strong momentum organically in growing markets as well as planned bolt-on acquisitions, as “the world continues to make a strong and sustained structural shift to e-commerce”.
Tommy Kelly, Chief Executive of ESW, said: “I could not be more proud of our team at ESW in the last few years and indeed throughout COVID. We have successfully recruited and onboarded over 200 additional roles with most of our colleagues having moved to remote working. Following another year of strong growth, we expect to achieve sales of close to $1.5 billion in 2021, a circa 20-fold increase over the past five years.
“Our solutions have enabled many of the world’s leading brands and retailers to accelerate growth and to meet consumer demand despite lockdowns and restrictions. That resilience, together with the speed and agility with which we can provide growth-seeking brands with a global online market presence has driven a step change in our growth projections. Those projections are ambitious but achievable. In delivering that growth we are collaborating extensively with our brand partners to ensure we grow in an environmentally sustainable manner.”
ESW will be putting specialist focus on solutions that address specific needs in the apparel and accessories, beauty and cosmetics and luxury categories. In addition, the product portfolio has been diversified to meet a wider range of market requirements, and now includes "Fluency Express", a fast and light integration with essential international e-commerce features, and "Fluency Enterprise" to help large brands achieve deep localisation and execute on their global strategy.
Additionally, the company’s "Symphony" service is a complete enterprise DTC solution - from the design and build of a brand’s online store to the day-to-day management of the trading environment.
To support the expanded portfolio and strong growth in both the UK and France, ESW has announced a raft of new senior appointments. Noelle Burke has been named Chief People Officer and brings more than 20 years of senior management roles for multinational corporations including Hewlett-Packard, Microsoft, and RSA.
Natashia Redfern has been appointed Director of Sales UK and comes from a strong logistics ecommerce background, and Thomas Rouland and Jerome Duclos have been appointed as Sales Directors for France, who both offer deep industry experience and knowledge in checkout and payments respectively.
Post year end (in March 2021), Asendia, the joint venture between La Poste Group and Swiss Post, acquired full ownership of ESW. It had previously owned 50.1% of the business. ESW continues to operate as a standalone entity and has accelerated its medium-term growth targets due to the scalability of its technology and solutions and its “ability to drive incremental sales for premium brands”, typically outside their home markets.