Arab Press

بالشعب و للشعب
Tuesday, Apr 21, 2026

The Amazon sellers who sold up and became millionaires

The Amazon sellers who sold up and became millionaires

Becoming a millionaire was never part of the plan. Michele Venton had left London for Bournemouth, keen to escape corporate life - and decided to try selling dresses online.

"I always had this idea that I would design this range of dresses for a particular woman," she says.

She found a factory to make her wrap dresses, and listed them for sale on Amazon, where she was amazed at the amount of interest they attracted.

"I soon worked out that, 'Hang on!' - There was a huge opportunity here," she says.

Clothes, however, were not the easiest product to sell online - too many problems with sizes, too many returns.

Amazon allows third-party sellers to use its formidable distribution network

But as a mother of two, she had experienced more than once the awkward feeling of realising that her children were going to a birthday party in a couple of days, and had no present to give.

She started selling emergency gifts for parents on Amazon.

In less than four years she was doing nearly £10m worth of business every year, across Europe and the US.

But soon the business got too big. Finding millions of pounds to buy all the stock she needed for the rest of the year was getting difficult. "It was going to need somebody with a lot more capital," she says.

So in 2019, when an offer came along to buy entire her business - for multiple millions - she accepted.

Amazon allows other sellers to list their wares on its website, and will even do the delivery or "fulfilment" for them through its formidable logistics network.

The sheer scale of Amazon means that if they get the products and the marketing right, small sellers can find themselves selling huge amounts quite quickly.

With the pandemic forcing many shops to close, many have seen their sales grow to the point where they find it hard to meet all their orders.

Two years ago, when Ms Venton sold up, it was relatively rare to sell businesses based entirely on selling via Amazon.

The buyer, a private individual, insists that we don't name them or their products, for fear of attracting competitors or saboteurs - such is the hypercompetitive world of e-commerce.

But over the past year, a new generation of firms has sprung up to offer Amazon entrepreneurs like Ms Venton a way to sell their businesses.

The biggest and best-known is a US firm called Thrasio, named after an Amazon warrior in Greek mythology. They are buying one to three businesses a week, with around 10 in the UK, and an appetite for more.

Thrasio founder Josh Silberstein says it is now a lot easier for Amazon retailers to sell up

Founded in 2018, it went from nothing to more than $500m (£360m) in revenue in its second year, according to its founder Josh Silberstein.

"Back then [in 2018], it took seven months to sell a company, there were more sellers than buyers, and it was just a gigantic mess. The whole thing was an awful experience for sellers," he says.

Just three years later, there are 64 companies around the world set up to buy Amazon-based businesses, according to the research firm Marketplace Pulse. Together they have raised nearly $6bn since April 2020, it estimated.

In general they look for sellers which have managed to get their heads above the chaotic hubbub of items for sale on Amazon, building up lots of positive customer reviews, and appearing in the first page or two of items that appear in user searches.

Thrasio now owns brands across a wide range of products

The best Amazon sellers make attractive investments because they often have bigger profit margins than their offline competitors, yet still sell for less than their offline counterparts.

The buyout firms hope that by bringing the professional skills and resources of a larger business, they can help the brands grow faster and become even more profitable.

Amazon buyout firms have sprung up in the UK, too, such as Heroes, founded by two identical twins, Riccardo and Alessio Bruni.

One of their acquisitions was Davaon, a garden tools brand founded by David Stephen. After many years as a travelling salesman, spending long hours in traffic jams and lonely hotel rooms, he was looking for a job that would give him more time with his family.

David and Tracy Stephen plan to start a new company

His wife suggested selling things on Amazon. After a $5,000 course, he found what he felt was an underserved niche - garden tools.

After many hours of trawling through the Chinese website Alibaba to find a supplier, he had a business, a brand, Davaon, and $10,000-worth of secateurs in his garden shed.

Loppers, shears and garden saws soon joined the range, and by 2020 he and his wife were selling more than £2m a year, bought from suppliers in Taiwan whom they still haven't met in person.

But the goal of an easier life was as far away as ever. "It got to the point where we looking at 12 to 15 hours a day. I was doing the weekends, it was non-stop.

The Stephens sold a range of gardening equipment

"If a customer emails on the weekend, you have to answer. I was dealing with stock coming in, we were packing the boxes ourselves, sending them to Amazon. There was never really a break."

He started to receive offers for his business last year. At first he thought they were rival sellers, digging for information.

Eventually, however, Mr Stephen sold to Heroes, partly, he says, because they took the trouble to actually visit him in person at his Northamptonshire home.

Despite earning enough to retire on, there's something about the thrill of building brands online that makes it hard for entrepreneurs to step away.

Mr Stephen plans to start a new venture soon, and Ms Venton has already launched another Amazon business. It sells "homewares" - but for fear of copycats, that's all she'll say.

The fact that there's an easy way to cash out after a few years is an extra incentive. "This is totally, totally my game plan. I am building this to sell," she says.

But though the potential rewards may be rich, it certainly isn't easy money.

"If you are prepared to have no income for 18 months and work 12-hour days to get this thing off the ground, fine," she says. "There are easier ways to make a buck."

Newsletter

Related Articles

Arab Press
0:00
0:00
Close
News Roundup
Strategic Saudi-Bahrain Causeway Closed Amid Security Concerns as Trump Deadline Approaches
Saudi Arabia Keeps Red Sea Oil Exports Flowing Despite Regional Tensions
Pipeline Attack Cuts Significant Share of Saudi Arabia’s Oil Export Capacity
Saudi Business Leader Abudawood Appointed Chairman of Merit Incentives Group
TotalEnergies Confirms Damage at Saudi Refinery Following Security Incident
Saudi Arabia Launches Early Construction Phase for King Salman Stadium Project
Saudi Shift Away from Longstanding Dollar Oil Framework Gains Attention Amid Iran Conflict
Türkiye and Saudi Arabia Resolve Long-Running Transit Visa Dispute
Saudi Oil Capacity and Pipeline Flows Reduced as Supply Risks Intensify
TotalEnergies Reports Damage to Saudi SATORP Refinery Following Security Incidents
Gulf States Assess Prospects of U.S.-Iran Truce as Regional Stability Efforts Intensify
South Korea Resumes Honey Exports to Saudi Arabia Following Sanitary Approval
Saudi Arabia Carries Out Sentences in Eastern Province Following Security Convictions
Saudi Sovereign Wealth Fund Backs King Street’s Regional Credit Strategy
Saudi Arabia Secures World Cup Return as Egypt Celebrates Landmark Qualification
Iran and Saudi Arabia Intensify Diplomatic Engagement Amid Regional Tensions
Russia and Saudi Arabia Open Visa-Free Travel Corridor for Citizens
Saudi Oil Output Capacity Reduced by 600,000 Barrels Per Day Amid Regional Conflict
Saudi Arabia Suspends Operations at Select Energy Sites as Precautionary Measure
Saudi Arabia Halts Operations at Multiple Energy Facilities Amid Heightened Tensions
Global Markets Jolt as Iran Signals Ceasefire Breakdown and Rising Regional Tensions
King Street Aligns with Saudi Sovereign Wealth Fund to Expand Alternative Investments in Middle East
Attack on Saudi Arabia’s Jubail Petrochemical Hub Raises Global Supply Concerns
Debate Emerges Over Saudi Strategic Decisions as Gulf Cooperation Council Dynamics Come Into Focus
Saudi Arabia Expands Full Workforce Localisation to 69 Professions in Major Labour Reform
Emerging Alliance of Pakistan, Turkey, Egypt and Saudi Arabia Signals New Regional Power Dynamic Amid Iran Conflict
Iran Linked to Strikes Across Gulf States Following Refinery Attack Escalation
Saudi Arabia Voices Concern Over Fragile US–Iran Ceasefire Stability
Starmer Warns Sustained Effort Needed to Ensure US–Iran Ceasefire Holds
Saudi Arabia’s Key East-West Oil Pipeline Targeted Following Ceasefire Announcement
Iran Targets Saudi Arabia’s East-West Oil Pipeline in Escalating Regional Tensions
Trump Warns of Civilizational Stakes as Iran Halts Negotiations
Saudi Companies Expand Remote Work Measures Ahead of Iran-Related Security Concerns
Iran Warns of Strikes on Saudi Energy Infrastructure if US Targets Its Facilities
Iran Urges Civilians to Form Human Shields Around Nuclear Sites as Diplomatic Deadline Approaches
Saudi Arabia Raises Oil Prices to Record Premiums Amid Supply Pressures Linked to Iran Conflict
Key Saudi-Bahrain Causeway Closed Amid Heightened Security Concerns Linked to Iran
Formula One Calendar Gap Explained as Fans Await Next Grand Prix
Growing Strain on the Petrodollar System Comes Into Focus Amid Iran Conflict
Reported Strike on Saudi Arabia’s Jubail Complex Raises Global Energy Supply Concerns
FedEx Introduces New Digital Tool to Streamline Imports into Saudi Arabia
Iran Claims Strike on Saudi Arabia’s Jubail Petrochemical Complex Amid Rising Regional Tensions
Taiwan to Source Oil Shipments from Saudi Arabia’s Red Sea Ports
Saudi Arabia Evacuates Riyadh Financial District as Precaution Amid Regional Tensions
Saudi Arabia Balances Ambitious Economic Vision Amid Regional Tensions and Financial Pressures
Budget Saudi Arabia Reports Strong Full-Year 2025 Financial Performance
Saudi Arabia Expands Investment in Capcom With Stake Reaching Six Percent
Saudi Arabia Assesses Significant Economic Impact From Regional Conflict Involving Iran
US Beef Secures Expanded Market Access in Saudi Arabia
×