Mobile Fun, the British mobile accessories etailer, has announced
that it is seeking a buyer to support its international expansion
ambitions.
Since April 2012, Mobile Fun has gone live in eight new countries
including Australia, Austria, Belgium, Canada, Hong Kong, India,
Ireland and Switzerland. The online retailer is set to unveil a
further 12 international sites over the next four months across
Europe, South America and Asia. All told, Mobile Fun expects to
be active in 26 countries by March 2013.
“Following the success of new European websites over the
past year, we analysed ecommerce and mobile device penetration to
select the new territories,” explains Alex Ashman, Mobile
Fun’s ecommerce manager. “The global market is a major
growth driver for Mobile Fun, with international sales accounting
for over 30 percent of our total orders. Although our expansion
is a bold move for us, we are confident that our new websites
will reinforce the fast growth we have enjoyed internationally so
far.”
As part of its expansion Mobile Fun is recruiting an
international manager for Australia, with other country managers
set to follow in a bid to ensure that new websites have
native-speaking teams with local expertise to drive sales. The
international teams are also working on establishing supply
chains and partnerships within the new territories, as well as
ensuring that country-specific localisations such as preferred
payment methods are available.
In order to achieve its expansion plans, Mobile Fun has appointed
corporate finance firm Altium Capital to advise on a possible
trade sale. In the financial year ending 31st March 2012, Mobile
Fun’s total revenue exceeded £10 million. For year ending
31st March 2013, the company is on course to hit sales of more
than £12 million with a predicted EBITDA of £1.2
million. Fuelled by an accelerated international expansion
programme, the business aims to achieve £25 million in sales
by 2017.
Share