The Aussie enterprise claims it’s now the world’s largest online sports apparel and fashion retailer.

We thought we would share this success story as a way of motivating those of you that are in the process of launching a business or perhaps in the planning process.  You don’t need to wait to have a perfect business plan.  Just start doing it even if things aren’t perfect.  Whether it’s expanding your dance school or launching a new marketing plan to add more classes or get more students…action is the key.

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Surfstitch’s founders are exploring exit strategies for their investment.

Having just started to dominate European online fashion retailing, after already becoming the market leader in Asia and Australia, Surfstitch is now considering an initial public offer on the Australian bourse.

Co-founder Justin Cameron told Fairfax Media the business is assessing its options, with an IPO or trade sale on the cards. “It’s something being considered currently,” he said.

According to Cameron, the business is already the largest online action sports and fashion business in the world.

In the US, the business’s main competitor is swell.com, which is owned by Billabong, which is also a shareholder in Sufstitch.

“So I know what that business is doing and it’s not doing anywhere near what we’re doing [in terms of turnover],” Cameron said.

In Europe its main competitor is Blue Tomato, which reported annual net sales of $42.3 million for the year to 30 April 2012, of which 75 per cent was generated through e-commerce. (Its sales figures are now consolidated into its parent’s, European apparel business Zumiez.)

“We do significantly more [than our competitors’ revenue],” said Cameron, who said Surfstitch would turnover $80 million this financial year.

It has been a wild ride for a business that was only founded in 2007. Aside from the Australian online shop, Surfstitch now has five European online stores and also runs Billabong’s e-commerce platform. In total, it manages more than 20 different websites, which Cameron said has enabled the business to achieve significant scale from a technology perspective. The business was also a finalist this year in Deloitte’s Fast 50 technology businesses.

“We represent more than 500 brands and have the ability to touch consumers across a number of different genres, including surfwear, sportswear, street fashion and accessories,” said Cameron.

“We have seen a significant shift of consumer spending to online and we have been able to capitalise on that,” he said.

Cameron says consumers can access a massive 20,000 different products through the business’s sites, something no other online surf brand can come close to matching.

He said the enterprise’s first mover advantage was one reason why it had been so successful.

“We launched before there were daily deal sites. When we started eBay was really the only option [for buying apparel online]. In the fashion space there was only us and ASOS. Being first allowed us to build awareness and scale very quickly.”

Surfstitch Surfstitch’s founders are exploring exit strategies for their investment. Having just started to dominate European online fashion retailing, after already becoming the market leader in Asia and Australia, Surfstitch is now considering an initial public offer on the Australian bourse. Co-founder Justin Cameron told Fairfax Media the business […]

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