// In The Style turnover rises over 130% in the 12 months to March 31
// New customers increased by 19% year on year to 420,000 during the period
// Sales on its app increased by 400%
In The Style has seen its turnover rise by over 130 per cent in the 12 months to March 31, and is expected to be no lower than £44.5 million, compared to £19.3 million in its 2020 financial year.
The online fashion retailer said its new customers increased by 19 per cent year on year to 420,000 during the period.
Sales on its app increased by 400 per cent, with app sales representing 55 per cent of total sales for the year, increasing from 19 per cent in the prior year.
READ MORE: In The Style makes stock market debut
The retailer listed on the AIM stock market in March, and before the year end, returned all the financial support it received from the government’s Job Retention Scheme.
The group ended the period with £11.9 million in cash.
In The Style recently partnered with Asda and will start selling product at around 100 of its stores from April onwards.
“We have maintained our strong momentum since our successful IPO and delivered a very good performance for the year,” In The Style chief executive and founder Adam Frisby said.
“I’d like to take this opportunity to thank our partners, colleagues and customers for their continued support of the brand during what has been a transformational year for In The Style.
“Our collaboration model creates a strong customer connection, drives highly efficient customer acquisition marketing metrics, and gives us exposure to a broad range of customers.
“The success of this model has been highlighted since the year-end by our exclusive partnership with Stacey Solomon.
“The collaboration with Stacey is one that we are really proud of and the hugely positive reaction to the launch of her maiden collection on April 27 underpins our confidence that this would generate an amazing reception from our customers and Stacey’s followers.
“In addition, our nationwide partnership with Asda is also really exciting for the brand and will give In The Style fantastic levels of exposure and greater reach with our customers.”