$1 Billion Milestone Culminates 4imprint's Five-Year Plan
The five-year plan worked.
4imprint (PPAI 107200, D15) announced Friday that its total revenue for 2022 exceeded $1.1 billion. Kevin Lyons-Tarr, 4imprint's CEO, says that the number had been on the company's radar well before global and economic factors put most businesses through difficult circumstances.
“Reaching this milestone by 2022 was a strategic objective we set for ourselves at the start of 2018," Lyons-Tarr says. "To have reached it even with a pandemic as part of the journey is a testament to the commitment and hard work of an incredible team of wonderful people. Our supplier partners are also part of that team, and we’re very grateful for their support and collaboration. We look ahead with optimism.”
Prior to 2022, no distributor had ever reached that milestone through promotional products, but 4imprint's announcement follows that of HALO just over a week prior.
The announcement came as part of a financial update to investors in 4imprint, which is a publicly traded company.
- 4imprint teased this announcement months earlier in a late 2022 press release, reporting that based on business performance to-date, it expected to exceed $1 billion.
- The numbers reported in the financial update this week amounted to approximately $1.14 billion.
- The distributor reported that this represents a 45% revenue increase over 2021.
In a trading update arranged by Chief Financial Officer David Seekings on behalf of 4imprint, Seekings says it was “a particularly strong finish to the year.”
A Record Year For Promo
4imprint’s announcement comes mere days after HALO released a statement that the Illinois-based distributor had also surpassed $1 billion in revenue in 2022.
- Reporting numbers based on the same calendar year, together HALO and 4Imprint are the first industry distributors to ever reach this milestone through the sale of promotional products.
- PPAI’s annual Sales Volume Estimate for 2022 will conclude at the end of January, but preliminary results suggest that the promotional products market in 2022 will be over $25 billion, an increase of at least 13% over 2021.
The record 2022 only bolsters 4imprint’s confidence in 2023 and beyond, as the promotional products company continues to not only bounce back from economic and global factors but begins to thrive and grow in ways never seen before.
“[4imprint] is delighted with the progress in 2022, which reflects clarity of strategy, the flexibility and resilience of the business model and the outstanding dedication of the team,” Seekings says. “The group enters 2023 with optimism.”