ESW, the Dublin based ecommerce business formerly known as eShopWorld, has reported higher revenues and earnings for 2021 but said its after tax profits fell by almost 10%.
The company said its turnover for the year to the end of December rose by 28% to €1.24 bilion with strong growth across all its markets.
Its earnings before interest, tax, depreciation annd amortisation rose by 3% to €41m.
But it said its profits before tax fell by 9.8% to €22.9m due to investments in its workforce and its e-commerce platform to support its future growth.
In June, the company bought Los Angeles based company Scalefast in a deal believed to be worth more than $300m.
During the year, the company high calibre global brands to its portfolio, including DKNY, Charlotte Tilbury, BCBG, Aspinal of London and The Webster
The company's total headcount by the end of 2021 exceeded 620, an increase of over 200 people since January 2020.
By the end of this year, its headcount, inclusive of Scalefast acquisition, will exceed 1,000 and the company said it remains in "active hiring mode".
Tommy Kelly, CEO of ESW, said the growth momentum of recent years - before, during and post Covid - shows an inexorable shift to e-commerce that shows no sign of abating.
"Our continuing investment focus has enabled ESW to scale at pace during the pandemic years but more importantly, to support the ambitious international growth aspirations of our brand partners," Mr Kelly said.
"We have seen a continuation of robust growth in 2022 and are on track to deliver full year revenues of approximately €1.5 billion. We continue to hire talent in Ireland and overseas which we see as critical in scaling to a €5 billion business over the coming years," Mr Kelly added.
