Vistaprint 2010 Annual Report Download - page 29

Form 10-K
geographic expansion of our marketing efforts and customer service operations and the introduction
of localized websites in different countries and languages. In addition, we intend to develop new
strategic relationships to expand our marketing and sales channels, such as co-branded or strategic
partner-branded websites and retail in-store offerings. Any failure to develop new products and
services, expand our business beyond our existing target markets and customers, and address
additional market opportunities could harm our business, financial condition and results of operations.
The loss of key personnel or an inability to attract and retain additional personnel could affect
our ability to successfully grow our business.
We are highly dependent upon the continued service and performance of our senior
management team and key technical, marketing and production personnel including, in particular,
Robert S. Keane, our President and Chief Executive Officer, Wendy Cebula, our President of
Vistaprint North America, Michael Giannetto, our Chief Financial Officer and Janet Holian, our
President of Vistaprint Europe. Any of these executives may cease their employment with us at any
time with minimal advance notice. The loss of one or more of these or other key employees may
significantly delay or prevent the achievement of our business objectives. We face intense competition
for qualified individuals from numerous technology, marketing, financial services, manufacturing and
e-commerce companies. We may be unable to attract and retain suitably qualified individuals, and our
failure to do so could have an adverse effect on our ability to implement our business plan.
If we are unable to manage our expected growth and expand our operations successfully, our
reputation would be damaged and our business and results of operations would be harmed.
We have rapidly grown to approximately 2,200 full-time employees and approximately 170
temporary employees as of June 30, 2010 and have production facilities or offices in Australia,
Bermuda, Canada, France, Germany, India, Jamaica, the Netherlands, Spain, Switzerland, Tunisia
and the United States. Our growth, combined with the geographical separation of our operations, has
placed, and will continue to place, a strain on our management, administrative and operational
infrastructure. Our ability to manage our operations and anticipated growth will require us to continue
to refine our operational, financial and management controls, human resource policies, reporting
systems and procedures in the locations in which we operate. We expect the number of countries and
facilities from which we operate to continue to increase in the future.
We may not be able to implement improvements to our management information and control
systems in an efficient or timely manner and may discover deficiencies in existing systems and
controls. If we are unable to manage expected future expansion, our ability to provide a high-quality
customer experience could be harmed, which would damage our reputation and brand and
substantially harm our business and results of operations.
If we are unable to manage the challenges associated with our international operations, the
growth of our business could be negatively impacted.
We operate production facilities or offices in Australia, Bermuda, Canada, France, Germany,
India, Jamaica, the Netherlands, Spain, Switzerland, Tunisia and the United States. We have localized
websites to serve many markets internationally. For the fiscal year ended June 30, 2010, we derived
45% of our revenue from our non-United States websites. We are subject to a number of risks and
challenges that specifically relate to our international operations. These risks and challenges include,
among others:
• difficulty managing operations in, and communications among, multiple locations and time
zones;
• local regulations that may restrict or impair our ability to conduct our business as planned;
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