Printful Records More Than $100M Revenue for 2019
In 2019, Printful reached $116 million in revenue. The company opened an office in Spain and expanded its fulfillment centers in the U.S. and Latvia. Printful has now grown to a team of more than 800 people. During the past year, Printful has implemented multiple new integrations with well-known e-commerce platforms.
In comparison to 2018, when the revenue was 77.4 million U.S. dollars, the company's revenue has grown by 49.6%. The Printful team now has more than 800 specialists worldwide: production specialists, sales and marketing experts, customer support specialists, developers, machine operators, designers, new product developers, sewing machine operators, and others.
In order to grow faster in Western Europe, in 2019 the company opened an office in Barcelona, Spain. The company is now working on opening its sixth facility—a fulfillment center close to Barcelona. The Printful website and customer support are also available in Spanish. Since the launch of the website in Spanish, revenue from orders in Spain has increased by 121%. Last year, the company launched its website and customer support in Japanese as well, making it possible to complete payments in Japanese yen.
Last year, the Charlotte, N.C., facility was expanded by 52,990 sq. ft. and the facility in Latvia was moved to a new, modern industrial park. Currently, the total area of the facilities in the U.S., Mexico, Spain, and Latvia has reached nearly 269,000 sq. ft. Recently, a new facility was opened in the Barcelona region and is currently working in test mode.
During the past year, the company has implemented multiple new integrations with well-known e-commerce platforms. There are new integrations with Bonanza, Magento, Wish, and Wix, which means the company currently offers automated integrations with 20 e-commerce platforms.
In 2019, Printful added 59 new items to its product catalog. Blankets, stickers, jackets, vintage hats, all-over print fanny packs, hoodies, and joggers have become especially popular. The company currently offers more than 230 products for printing, embroidery, or engraving. Last year, the company reached the goal of printing 10 million products; currently, Printful facilities have fulfilled more than 18 million products.
In 2019, the company made the Inc.com list The Most Successful Companies in America that ranks the 5,000 fastest-growing companies in the U.S. Printful ranked No. 564 with a 786% growth increase.
“We have proved ourselves a sustainable, ever-growing business that follows the current e-commerce trends. We work with great care because our customers trust us with what they value the most—their own customers. We’ve helped grow many successful e-commerce stores, and many brands rely on us to create their products,” states Davis Siksnans, the co-founder and CEO of Printful.
In March 2020, the U.S. and many other countries have taken safety measures to limit the spread of COVID-19. These measures have shown to significantly impact US and worldwide economic growth. Initially, the demand for Printful goods and services decreased, but it is now experiencing a rapid increase. To keep up, Printful is set to purchase additional equipment for 3.9 million U.S. dollars.
Siksnans comments that “Printful management is following the guidance from the local and global authorities to ensure the health and safety of the employees. Even though adapting to new adjustments during the pandemic has created a noticeable decline for many businesses, Printful is experiencing order volume that can typically be seen during our peak sales period—Black Friday and Cyber Monday.”
Since Printful’s business is based on providing outsourced printing and shipping services for e-commerce store owners, the company predicts that despite the COVID-19 outbreak, the business could experience positive long-term effects.
The preceding press release was provided by a company unaffiliated with Printing Impressions. The views expressed within do not directly reflect the thoughts or opinions of the staff of Printing Impressions.
