Wednesday, December 8, 2021

Consumer choice boosts Boohoo’s revenue

It‘s been a positive year for Manchester based fashion retailer Boohoo, as the company has recorded pre-tax profits rising by 3% to £11m for the year up to February 28. 

Revenue hit £139.8m, which provided a year-on-year increase of 27%.

The online fashion destination puts its achievements down to the successful launch of new products including petite and plus size ranges:

“Our customers’ reaction to our product ranges across markets continues to be very encouraging and we are excited by our new launches including petite, fit and forthcoming tall collections and the success of our rapidly growing plus size collection” commented Mahmud Kamani and Carol Kane, joint CEOs at Boohoo.

The fashion pureplay announced that it now has over three million active customers, up 29% from 2014 and will remain focused on pushing growth for the company‘s shareholders.

The brand hopes to push its consumer audience by continuing to focus on niche market audiences, with a tall selection being introduced later this year and the continuation of plus size and petite ranges.

“We remain confident in our proven business model and in the continued development of the on-line fashion market globally in which we are steadily increasing our market share – Our international momentum has continued, reflecting greater focus on our key markets. Overall, the business continues to trade in line with management’s expectations”, Kamani and Kane added. 

The retailer will also continue to invest in other key markets, including Australia, USA, Ireland and France, where Boohoo claims to see, “the greatest long term growth potential”.

“We are constantly improving the customer experience and our country specific pricing remains agile to ensure we stay on top of our game”, the duo confirmed.


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