Irish company ESW to create 500 jobs, aiming for $5bn in revenues

ESW, formerly EShopWorld, intends to create over 500 roles over the next three years and grow revenues to over $5 billion (€4 billion) by 2026 at the latest, the company has said.

Following its acquisition earlier this year in a deal that valued it at over €1 billion, the Irish ecommerce company has issued a new forecast for the next five years.

The forecast comes as it said 2020 revenues rose 78 per cent to $1.2 billion (€965.2 million) with pre-tax profits up 400 per cent to €28.7 million. (Ebitda) increased by almost 200 per cent to €40 million in 2020 and cash at year end more than doubled to €76.9 million.

The Swords-based company which connects brands such as Victoria's Secret and Nike with consumers in more than 200 countries, said it is on track to post revenues of €1.5 billion for 2021.

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This would represent a 20-fold increase in turover over the last five years. The company also intends to grow headcount by 500 people to over 1,100 people as it invests over $100 million in research and development activities.

Overall, ESW is targeting revenues of more than $5 billion within three to five years based on both organic growth and acquisitions.

Employees

Some 70 per cent of the company’s 600 employees are based in Dublin with expectations that the majority of new roles will also be created here.

Chief executive Tommy Kelly said the company's projections were "ambitious but achieveable.

Asendia, a joint venture between La Poste group and Swiss Post, acquired the remaining stake in ESW it did not already own for an undisclosed sum in March. It continues to operate as a stand-alone entity.

Among the new clients ESW secured last year were Gucci, Kering, Abercrombie & Fitch and J Crew.

“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,” he said.