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Adyen, the payments platform of choice for the world’s leading companies, today announced that online retailer Show Pony Group (Showpo) has selected Adyen as its payments partner in line with its global expansion. With the partnership in place, Showpo, one of Australia’s largest online fashion sites, will be able to cater to the payment needs of customers from more than 80 countries around the world.
Founded in 2010, Showpo has grown substantially, with revenue projected to increase to over AU$30 million. Much of this success has been driven by innovative and creative use of social media platforms to reach customers, particularly Instagram, where the brand boasts more than 1.3 million followers.
“In order to thrive in the competitive fashion industry, businesses like ours need to build scale quickly and effectively. Adyen gives us the data and risk management options that help us grow our customer base by offering a consistent, frictionless payment experience,” says Jane Lu, founder and CEO of Showpo. “By working with Adyen, we are able to offer a broader range of payment options to our global customers, enabling easier customer conversion.”
Currently, Showpo’s international sales sit at 35% of its total revenue – a figure they expect to see expand in the near future.
“Social media has been a cost-effective way for us to build our brand very quickly,” says Ms Lu. “It has also helped reach a significant international customer base, which we forecast to make up 50% of our sales within a couple of years. By 2020, we hope to build Showpo into an AU$100 million business, with no external funding.”
A frictionless payments process is crucial for customer conversion, and Showpo believes Adyen is the ideal provider of the most effective solution for their specific needs. Adyen’s purpose-built platform has allowed Showpo to offer payment methods including Alipay, UnionPay, WeChat Pay, as well as Sofort, CarteBancaire and iDeal. The dynamic platform also helps increase card authorization rates while minimizing fraud with data-backed strategies. With Adyen’s payments platform in place, Showpo can build scale quickly and effectively by making every customer interaction count.
“Adyen’s name has been synonymous with top brands disrupting the industry globally,” says Michel van Aalten, Country Manager AUNZ for Adyen. “We understand Showpo’s needs as a fast-growing business, and look forward to helping drive more global customer conversions for the brand.”
Showpo started off as Show Pony in a tiny garage when Jane, the founder & CEO, realised the confines of boring cubicle life just wasn't for her. She recognised a gap in the market for fun, affordable fashion so using social media, quickly grew the brand and seven years later, has no chance of slowing down. Showpo currently has over 40 happy team members, an impressive 3M+ social following, sells to 80 countries and is turning over AU$30 million annually. Our vision is to be her go-to place to shop, and by 2020, we want to be dominating the global fashion space with an AU$100M run-rate and no external funding.
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