Redbubble’s makes sales of $6.4M in four days

Company News

by David Chau

Redbubble Ltd (ASX:RBL) is a Melbourne start-up, which listed on the ASX in May 2016 and has a market cap of around $180 million.

It runs an online shop where independent artists can print their artworks onto items such as t-shirts, cushions, iPhone cases, coffee mugs, and sell them to consumers.

The company says it sold $6.4 million worth of goods during the four-day American Thanksgiving long weekend which just passed – beating its Thanksgiving sales from last year by 27%.

Redbubble says its Black Friday sales were “very strong” with year on year growth of 47%, while the US online market (as a whole) had growth rates on Black Friday of 21.6% year on year.

The company also says it expanded into new markets where, despite a weaker Euro, its sales increased! In Germany, it increased the most – by 77%, France up 43% and Spain up 69%.

Redbubble posted a net loss of $19.8 million at 30 June 2016.

David Chau

Finance News Network
David joined FNN in April 2016. In addition to presenting the Market Outlook and latest business news stories, David interviews senior economists and CEOs of ASX-listed companies. Prior to working for FNN, David was a litigation lawyer.