In The Style, the British online fashion retailer, expects its turnover to surge by more than double for the year that ended 31 March 2021.
The turnover, in all likelihood, will be no less than £44.5 million – subject to audit.
Now, that would mean a rise of more than 130 per cent compared to what it was in 2020, when the e-tailer generated turnover of £19.3 million.
The fashion e-tailer has also gained a lot from the new customers that it added during the period.
It is worth mentioning here that the e-tailer increased new customers by 19 per cent year-on-year to touch 420,000.
The app sales constituted 55 per cent of total sales during the period. That’s another 19 per cent rise from the previous year.
The fashion group ended the year with a cash of £11.9 million. Here it is important to state that the e-tailer has already returned all the financial assistance it received from Government’s Job Retention Scheme.
While thanking all its partners, colleagues and customers for their constant support, Adam Frisby, CEO and Founder, In The Style, said “We have maintained our strong momentum since our successful IPO and delivered a very good performance for the year.”
The Manchester-based e-tailer is known for its womenswear and is owned by Adam Frisby. It ships to as many as 100 countries including the UK.
Also Read: 169%! That’s In The Style’s sales growth last quarter!