// The full-year results are the first since In The Style raised £11 million when it floated on AIM in March
// Revenue rose at the retailer to £44.7 million from £19.3 million
Online fashion retailer In The Style has more than doubled its revenue during its latest financial year.
The business has reported a revenue of £44.7 million for the 12 months to March 31, 2021, up from 19.3 million.
New figures published this morning also reveal that In The Style made a pre-tax profit of £125,000 compared to a loss of £2.1 million during the previous year.
Direct-to-consumer revenue climbed from £17.5 million to £36.4 million, while adjusted EBITDA improved from a loss of £1.1 million to a profit of £3.8 million.
In The Style chief executive Adam Frisby said: “FY21 was a transformational year for In The Style, during which we delivered outstanding growth and strategic progress while remaining true to our mission of empowering our customers to be brave, embrace body confidence and, most of all, love themselves for who they are.”
“Central to our success is our differentiated influencer collaboration model that creates a strong customer connection, drives highly efficient customer acquisition marketing metrics, and gives us exposure to a broad range of customers.”
The full-year results are the first since In The Style raised £11 million when it floated on AIM in March.
During the same time period, the retailer brought nine new influencers to its ranks and it signed a new partnership with Asda.
In a statement, the business also said its sales in the first quarter of its current financial year are 44 per cent above those a year earlier.
“We have maintained very positive trading momentum through the early part of FY22 despite the strong prior year comparatives and continue to progress well against our strategic objectives, driven in part by new initiatives including the exceptionally well received Stacey Solomon collaboration and our nationwide Asda partnership,” said Frisby.
“I’d like to take this opportunity to thank our partners, colleagues, and customers as well as both our old and new shareholders for their support of the In The Style brand.
“Following our successful IPO, I believe we are very well positioned to continue to build on our strong momentum and achieve our significant growth ambitions.”