Online marketplace company Articore, the owner of Redbubble and TeePublic, has announced an executive appointment, an acquisition, and the end of a review as it continues with its turnaround strategy.

Long embroiled in financial challenges, Articore has recently returned to profit under the leadership of CEO Vivek Kumar, who was appointed to the role in June.

Kumar’s strategy has centred on the reduction of operating costs. Now, the business is seeking growth.

In an update to the ASX, Articore confirmed the acquisition of India-based, print-on-demand marketplace, Frankly Wearing for US$900,000. The company said this will help provide an entry point into the Indian market.

“We spent the last few quarters getting the foundations right and it shows in our results,” Kumar said. “The Frankly Wearing acquisition accelerates our technology roadmap and opens a significant new market.”

Elsewhere, the company’s review of its transformation strategy has concluded, with the board saying it “presents the most compelling path to long-term shareholder value”.

“We are now focused with clarity on the next chapter — driving profitable growth by becoming the best destination for customers to discover unique, design-led products, and the best platform for creators to earn,” Articore chair, Robin Mendelson, said.

Mendelson also welcomed the appointment of Naseema Sparks as an independent non-executive Director, stating she “complements our board’s capabilities”.