In The Style has shared its results for the half-year to 30 September ’21. Whilst it had recruited 243,000 new customers which was 3.8 per cent up year on year, it confirmed that it had suffered higher returns levels and supply chain difficulties which led to a fall in its profits from £1.8m to £900k. Overall revenue came in at £29.8m which was up by 38.8 per cent YOY with direct to consumer net revenue up by 23.4 per cent to £23 million derived in part from an impressive 25.8 per cent rise in AOV for the period.
CEO and founder of In The Style said: “In the Style has continued to deliver very strong sales growth and strategic progress during the first half of the financial year. The business has continued to build on its exceptional growth in the prior year, despite the reopening of physical retail and lifting of social restrictions during the period, which reflects the strength of our brand and our truly differentiated influencer collaboration model.
“Whilst the global supply chain and freight disruption that has impacted across the industry is expected to persist for at least the remainder of the year, we are pleased to report that the strong sales performance achieved during the first half has continued through Black Friday and into the festive trading period so far. With this momentum, coupled with recent investment into our scaled-up operational and senior management teams, we look forward to continuing In the Style’s exciting growth and achieving our long-term vision for the brand.”
The business launched new wholesale partnerships including a 100 store launch with ASDA during the period and had achieved growth in sales across its newly introduced inclusive size offering.
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