In The Style, the British womenswear retailer, has reported a massive jump in its full-year revenue. The fashion retailer, importantly, has returned to profit in the year that ended 31 March 2021.
The year saw the retailer record a revenue jump of 132 per cent to £44.7 million – all thanks to consumers’ growing preference for online shopping.
While the direct-to-consumer revenue, for the year, shot up by 108 per cent to £36.4 million, the wholesale revenue too rose by a huge 353 per cent to clock £8.3 million. The retailer has attributed the huge numbers to its influencer collaboration model.
Here it is important to mention that In The Style introduced 9 new influencer collections during the year. Notably, it also launched a partnership with Asda to sell In the Style collections across over 100 Asda stores.
The profit before tax for the retailer in the 12-month period was £2.5 million – that’s another massive surge of 213 per cent. The gross profit rose by an impressive 101 per cent to £20.5 million.
The retailer also witnessed its new customer acquisitions rise by 19 per cent year-on-year.
Founded in 2013, In The Style has been growing rapidly over the last few years and this year in March, it launched IPO, which raised £11 million in gross proceeds. It ships to as many as 100 countries.
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