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Could You Be The Next T-Shirt Millionaire?

Teespring launches in the UK and Europe today with a mission to reinvent e-commerce, as over 53% of Brits say they have unrealised business ideas.

The “Dragons’ Den” approach to business, which places aspiring entrepreneurs at the mercy of investors and bank managers, has had its day and is ripe for disruption, says San Francisco-based Teespring.

The free platform enables people to design, sell and manufacture clothing and custom products without any upfront costs. Thousands of people around the world earn a part-time or full-time living on Teespring and a number have become millionaires – a trend Teespring expects to continue internationally through the launch of Teespring Europe.

To mark the launch, Teespring commissioned research into entrepreneurialism in the UK, revealing that nearly two thirds of Brits (63%) believe they have a creative streak that they could harness to make money. However, almost as many (60%) think pursuing their ideas is too risky – the most significant roadblock being access to capital. The study further found that over 60% of the British public believe that it is now harder than it was ten years ago to start a business.

Teespring aims to reinvent e-commerce in the UK by enabling entrepreneurs, or essentially anyone with a great idea, to design, market and sell custom apparel online at zero financial risk. Sellers must set a sales target and can sell their designs online through the Teespring platform. When the sales target is reached, Teespring produces and dispatches the items direct to purchasers. If it is missed, no items are produced, or costs incurred – truly removing the barriers to launching a new venture.

The Teespring model allows aspiring entrepreneurs to iterate with different designs and garment types, so they can work out what works, while saving them both upfront investment and the headaches of handling and storing inventory. The popularity of social media and mobile devices also contribute to the company’s success; according to Teespring data, over 60% of sales are driven by social media and nearly 70% of sales are made via mobile devices each month.

Since 2012, Teespring has emerged as an innovator in social commerce, shipping 15 million garments around the world. An estimated 1 in 75 Americans purchased a Teespring garment last year and more than 20 people have earned more than a million dollars each through the social commerce platform.

Building on its strong momentum, Teespring has over 300 employees and has raised $55M in venture capital from leading investors Andreessen Horowitz, Khosla Ventures, and Y Combinator. The company is now turning its sights on the UK, establishing its European hub in London and believes that a combination of untapped creativity and entrepreneurialism, as well as proximity to the rest of Europe, will help it to succeed.

Walker Williams, CEO and Founder of Teespring, said:

“At Teespring we believe that getting into business should be as simple as having a great idea. As we expand internationally, our vision is to create a global platform that empowers anyone anywhere to bring their ideas to market regardless of their geography, connections, or access to capital. Brits and people throughout Europe are creative, digitally-savvy, and have terrific entrepreneurial potential that we can help unleash. The UK is the perfect base for our European business, and we look forward to growing our presence in London in the years to come.”

The launch of Teespring Europe has been made possible through the Teespring acquisition of UK start-up Fabrily. Fabrily is the fastest growing e-commerce site in Europe, growing a significant 2,000% in 2014. Its London based team will now run local manufacturing and shipping processes for Teespring Europe. As the company grows its presence globally, Teespring buyers throughout Europe will be able to use the site in their local languages and make payments in their local currency.

Speaking about the launch, Adil Mohammed, Vice President of Teespring Europe and the founder of Fabrily, added:

“The creation of Teespring Europe resulted from a meeting of minds and a shared vision for reinventing e-commerce. By removing the barriers to designing and selling products, we hope to open new opportunities for entrepreneurs throughout Europe and around the globe to build successful businesses with no cost or risk.”

Andrew Cooke, Deputy Chief Executive of London & Partners said:

“As Europe’s leading technology hub, London is the best place for US companies such as Teespring to set up their European HQ operations. London is the gateway to Europe and from here companies can access our world-class talent pool and expand further to other geographies. The city’s status as a shopping mecca and leading ecommerce market, also makes it an ideal destination for ambitious companies such as Teespring to grow their customer base.”

This was posted in Bdaily's Members' News section by Teespring .