Online fashion retail legends Showpo are pretty darn good at providing clothes and fashion accessories to a frothing global market. They bloody well can’t get enough of it.
And with the Australian startup announcing yesterday that it’s hitting an absolutely mammoth $25 Million run rate, with 35% of sales being international, it certainly shows.
We spoke with Kelly McCarren, Showpo’s Digital Campaign Manager who says the run rate is essentially what the company are on track to receive given their current performance.
“Basically, a run rate is the annual projection of sales based on what we’re currently doing. It’s mainly due to strong social media presence and having the right products really!”
For the unacquainted, Showpo was founded in 2010 and boomed after it hit a perfect niche market within the crowded e-commerce scene, offering popular, affordable options with fast delivery.
Company CEO, Jane Lu, made the switch from KPMG and EY business analyst to full-flown fashion queen while clearly bringing a wealth of business smarts with her.
“We’re excited by our continued growth which shows no signs of slowing down. Through more aggressive marketing and continued international expansion, we expect to see our growth continue accelerating,” says Lu.
With a combined approach involving bricks and mortar stores and their online store, it has allowed them to rake in the same calibre of big bucks as established labels and outlets, which is fricken huge, tbh.
As for her future plans with the fashion empire, Jane is setting her sights very high.
“We’ve got so much planned for the future – Our vision is to be her go to place to shop. We want to do this by building Showpo into a $100M business by 2020 with no external funding.”
Bloody hell! Best of luck, Jane.