Photobox Group - 25 Jan 2019

Moonpig racks up tenth consecutive year of double-digit revenue growth

Hits £88m revenue, joins with Dutch brand Greetz to create European leader in online greetings cards & personal gifting

Moonpig, the UK’s leading online personalised gifting, flowers and card retailer has reported revenues of £88 million for FY18 – its 10th consecutive year of double-digit growth – as it continues to disrupt the greetings cards market, 90% of which is still offline.

The year ending 30th April 2018 saw Moonpig deliver an award-winning brand refresh, and continued innovation in its flowers and gifting business alongside its industry leading range of personalisable card designs.

Since then, the company has appointed ecommerce entrepreneur, Nickyl Raithatha, as Managing Director in addition to other senior hires from the likes of Net-a-Porter, Farfetch, Etsy and Sainsburys to fuel momentum.

In Summer 2018, parent Photobox Group acquired Greetz, Moonpig’s Dutch equivalent, creating a European category leader in online cards & gifts.  It also moved into a new award-winning £20m HQ in the heart of London’s tech community.

Outside of London, Moonpig boosted its technology leadership with an investment in 50 new engineering roles located in a new Manchester tech hub.

“We continue to innovate around the simple act of giving, providing the most meaningful way for people to celebrate their most important relationships” said Nickyl Raithatha, MD of Moonpig.

“In a world where so many of our connections happen digitally, being able to show you care with a card or gift is more powerful than ever before.”

Moonpig’s parent, Photobox Group reported £315 million in revenues for FY18 with an underlying EBITDA of £47.6 million.

A series of major investments in the Group’s ‘photo gifts’ businesses – Photobox, Hofmann & PosterXXL – included the opening of an Artificial Intelligence (AI) hub with 60 tech specialists in Paris, underpinned by the migration of 5.7 billion photos to the cloud – the largest ever data migration in Europe.

“2017-2018 saw Photobox Group cement its position as Europe’s leader in ‘emotional commerce’ – helping more than 14 million customers across 15 markets celebrate their most meaningful relationships and milestones through the creation of over 30 million unique personalised books, gifts and cards,” said Jody Ford, CEO Photobox Group.