Tradeinn continues to grow and invoices 500 million in 2023

Tradeinn continues to soar. The company closed 2023 with a turnover of 500 million euros, a 15% increase compared to 2022, when revenues stood at 434 million euros. The company, which was born as the heir to a small diving shop in L'Estartit (Girona), has become one of the leading online sports product sales groups in the world, with 18 verticals, among which cycling, mountain, and multisport recorded better performance in sales last year. Its workforce stands at over 600 employees.

"We continue to exceed our forecasts every year. Despite the complications of recent months in the transport sector, we have managed to maintain our growth objectives," explains its CEO and founder, David Martin. While the increase in shipping costs for products has not affected Europe, it has impacted sales outside Europe, with a 5% decrease. Transport costs have escalated by 40%.

The good results it has been chaining for years will translate into a new expansion of its central headquarters in Celrà (Girona), after it also grew in 2021. The company will invest more than 15 million euros in the works, with which it will go from the current 35,000 square meters of storage space to 50,000 square meters. The logistics warehouse is expected to be fully operational by next year.

Likewise, the company plans to relocate its logistics warehouse in Germany. Currently, it is located in the town of Pulheim and wants to find a new location to reach an area of 6,000 square meters.

Since 1997

Tradeinn has its origin in Scubastore, a company that in 1997 was a pioneer in the online sale of products for diving. It was founded by the Dutchman Roland den Hartog, who ran a shop and a diving school in L'Estartit. Den Hartog partnered to launch the virtual store with IntercomGi, the Girona-based IT services company of Dídac Lee.

However, Scubastore did not quite take off until the arrival, in 2008, of David Martín, a computer scientist who had worked at IntercomGi and was also responsible for launching the online channel of Eurekakids. His first decision was to rebrand and refound the website, which was renamed Tradeinn to cover all types of sports. At that time, the company had a turnover of 1.5 million.

Tradeinn's growth has been financed almost entirely with the company's own resources, profitable from day one. Thus, the company has grown without resorting to the funding rounds that all startups usually carry out. After the departure of the founder, Roland den Hartog, the company was left in the hands of the investment group VentureCap and Dídac Lee in 2008. Upon his arrival, Martín received a package of shares that he increased until he became the main shareholder by repurchasing the shares held by VenturCap. In 2015, this fund led by Victoriano Peralta decided to sell the remaining 30% to the Barcelona-based investment group Suma Capital. This summer, Suma Capital put its stake up for sale.