Acquisition accelerates Vivek Kumar’s technology roadmap
ASX-listed Articore, which owns and operates popular global marketplaces Redbubble and TeePublic from Dockland, Australia, has completed the acquisition of Frankly Wearing, an India-based print-on-demand creator marketplace. The deal gives one of the world’s fastest-growing creator economies access to Articore’s proven global infrastructure and scale, in a print-on-demand market valued at over US$1 billion.
Articore CEO Vivek Kumar said on 18 May, “The Frankly Wearing acquisition accelerates our technology roadmap and opens a significant new market. With Frankly Wearing’s local expertise combined with Articore’s global marketplace scale and third-party fulfilment network, we are well-positioned to capture a meaningful share of one of the world’s largest, growing markets.”
Every day, more than 10,000 new designs are uploaded to Redbubble and TeePublic by independent artists from more than 100 countries. Print-on-demand removes the biggest barrier for creators: upfront costs associated with manufacture and fulfilment. A creator with a few hundred followers can run a merchandise store just as easily as one with over five million. More than 250 million products have shipped from the Redbubble and TeePublic marketplaces, generating US$3.2 billion in cumulative revenue. Together, Redbubble and TeePublic are home to more than three million creators and 75 million unique designs.
Frankly Wearing delivers consistent, high double-digit growth and is cash flow positive. The acquisition also gives Articore an immediate engineering presence in India. It is the first step towards building a Global Capability Centre intended to accelerate the company’s technology roadmap and drive down operating costs in the long term.
Founded as Redbubble in 2006, ASX-listed Articore (Articore or the Group) owns and operates the leading global online marketplaces Redbubble, TeePublic, Frankly Wearing and an emerging storefront platform, Dashery. Powered by more than three million independent creators, Articore’s community of passionate creatives sell uncommon designs on high-quality, everyday products such as apparel, stationery, housewares, bags, wall art and more. Through Redbubble, TeePublic, Frankly Wearing and Dashery, independent artists are able to profit from their creativity and connect with customers looking for original and meaningful ways to express themselves. Fiinews.com
