Bullion trader eyes £100m turnover target with US and European expansion

A Birmingham-based bullion dealer is exporting for the first time to Europe and the US with the launch of new international websites.

BullionByPost is an online dealer of gold and silver bars and coins. The business trades with private investors solely using ecommerce platforms.

Gold and silver items are valued commodities all over the world, but the business has decided to focus on Europe, specifically the Republic of Ireland, France, Italy, and the US where it has noted particular demand.

The firm turned to the Department for International Trade (DIT) to support the launch of its new websites, by providing information about trademarks and online tax considerations. The new sites are optimised to tap in to the growing appetite from investors and collectors in bullion in Europe and the US, target potential investors more effectively, and provide a user-friendly experience.

Since launching at the beginning of June, the new websites are on course to boost annual turnover by 10% or £12.5m and the company expects to grow to £100m within three years.

Rob Halliday-Stein, founder of BullionByPost, said: “Since launching the business in 2009, we have devised a successful business model in the UK based on online commerce, product expertise and a high level of customer service. BullionByPost has already seen success domestically, and our ambition is to continue replicating these achievements across the globe in the months and years to come.

“The Department for International Trade has supported and encouraged us as we developed the new websites and understood our decision to focus on these priority markets.  For any businesses looking to either start or grow their exporting journey, I would advise speaking to DIT to form a comprehensive overseas ecommerce strategy – there is a world of opportunity out there and DIT is helping British businesses tap into it. If we can do it, so can you.”

Ian Harrison, head of exports in the Midlands for the Department for International Trade, said: “Rob and the team at BullionByPost have demonstrated great ambition and an entrepreneurial mindset in their approach to exporting.

“We know that exploring the world of ecommerce isn’t without its complexities, particularly when it comes to language barriers, translations and protecting trademarks. That’s why we have a team of Midlands-based international trade advisers on hand to help businesses overcome these hurdles and trade with overseas buyers effectively.”

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