With consistent growth in the metrics that count–including 2004 web sales of $85 million-Ritz Interactive Inc. is still examining the feasibility of one day going public. But for now CEO Fred Lerner says Ritz, which operates a network of e-commerce web sites and flagship web stores such as RitzCamera.com, BoatersWorld.com and ritzPIX.com, will concentrate on expanding the business through organic growth and acquisitions. In August, for instance, Ritz, which caters to web shoppers with an interest in outdoor and active lifestyle products such as fishing, photography and golf merchandise, acquired eAngler.com, one of its largest and oldest competitors in the marine-specialty online shopping space, for an undisclosed price.
“We are still contemplating an IPO, but in the meantime we will continue to grow through acquisition and our own start-ups,” Lerner says. “We still have the same emphasis on building communities that cater to online shoppers and active lifestyle products.”
Within the last three years Ritz has expanded its e-commerce network with at least 10 acquisitions, store start-ups or strategic partner alliances, the company says.
If–or when–Ritz does go public, Lerner and his management team will continue to build business-to-consumer e-commerce sites with an online community look and feel to them, which includes offering users and shoppers access to a variety of topic-specific content such as in-depth articles on fishing, boating or photography topics, Lerner says.
Riz will also continue to build up its third-party service business for other retailers. For instance, Ritz provides outsourcing of e-commerce services to Great White Shark Enterprises, which is owned and operated by professional golfer Greg Norman. Ritz handles marketing, fulfillment and customer service at Norman’s ShopatShark.com and related sites, the company says.
“We’re growing in a number of ways,” Lerner says. “We will keep looking for new opportunities to make other acquisitions and grow organically.”
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