Womenswear e-tailer In The Style sees H1 revenue rise by 38.8% to £29.8 million

British womenswear e-tailer In The Style has seen its six-month revenue surge by 38.8 per cent to clock £29.8 million.

It’s even better when compared to the same period in 2019. The fashion e-tailer witnessed a jump of 245.5 per cent from £8.6 million two years back.

The gross profit at the e-tailer rose by 28.7 per cent year-on-year (Y-o-Y) from £10.9 million to £14 million. However, profit before tax slumped by 51.3 per cent from £1.8 million in 2020 to £0.9 million.

In The Style’s EBITDA dropped by 51.7 per cent Y-o-Y to £1.2 million from £2.47 million last year. In 2019, it, reportedly, made a loss of £600,000.

Direct-to-consumer net revenue increased by 23.4 per cent to £23 million (from £18.6 million in the same period in 2020). The wholesale revenue increased by 138.7 per cent to £6.9 million, from £2.9 million in 2020.

Notably, In The Style has a cash balance of £9.9 million, up from £4.2 million in the same period last 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.