Online fashion brand In The Style is expected to return to profit in its current financial year following its acquisition by private equity firm Baaj Capital.
Profit is predicted to be near £1m for the year to end of March 2024, in contrast to a £5m loss last year.
The business told Drapers it would make “further material gains” during the following year.
The etailer said its return to profit was aided by inventory improvements, such as “reducing stock obsolescence and clearance activations,” celebrity collaborations, and “a more effective return on marketing investment”.
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In The Style saw a rise in gross product margin to 56% during the four months to 30 November, compared to 42% the previous year.
The company’s CEO Adam Frisby said: “After a period of realigning the business post the transaction of March 2023, In The Style (ITS) has delivered continued exceptional trading improvements.
“Longer term, the ITS business model remains firmly rooted in our unique collaboration model whilst investing to augment our own brand product ranges and continue to be a brand with inclusivity at the heart of everything we do.”
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