A presence in Europe part of Blackcircles’ growth plan
In addition to announcing a 30 per cent rise in sales last year, Blackcircles.com appears set to expand across the Channel in the near future. Company founder and managing director Mike Welch states the online retailer aims to grow market share both in the UK and internationally and claims that Blackcircles.com is now in talks with parties in Central Europe; if all goes to plan, an announcement regarding a partnership or acquisition will be made before the end of this year.
Company revenue increased from £17.9 million to £23.2 million in 2012 and EBITDA more than doubled to £600,000. Blackcircles.com’s re-tax profits are anticipated to exceed £400,000. The aim is, says Welch, to grow revenue to £100 million within five years. Reaching this level of turnover will require the company to branch out into continental Europe; the managing director believes that if current growth levels are maintained, Blackcircles.com will achieve UK sales of £75 million to £80 million within this timeframe.