In The Style has filed its intention to trade on London’s junior AIM market.
The pure-play fashion retailer, known for creating branded womenswear collections with a wide range of influencers and celebrities, has enjoyed unbroken revenue growth since its launch in 2013.
In the 12 months to 31 December 2020, it reported £41 million net sales and boasted an active customer base of 700,000 customers (up 61 per cent on the previous year).
The majority of the company’s growth is largely due to the success of its authentic collaborations with influencers – what it calls a ‘highly-efficient, low cost marketing’ model. Whereby In The Style shares the risk and reward of each collaboration through royalties linked to the commercial success of an individual influencer’s ranges. Over 2020, the company also increased its new customers by expanding its product ranges while also growing the frequency of collaboration launches.
In The Style predicts ‘significant further growth’ ahead. For 2021, it’s agreed seven new partnerships with influencers due to launch in the coming year, as well as “one of its most exciting influencers to date who is expected to launch in April 2021”.
Adam Frisby, founder & chief executive officer of In The Style, said: “Since our launch back in 2013, we have strived to do things differently by ensuring we empower our customers to be brave, embrace body confidence and, most of all, love themselves for who they are. We work closely with social media influencers and celebrity partners who align with our brand values to design and launch authentic collections that are then sold through our proprietary In the Style app, eCommerce website, and selected B2B partners.
“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.
“We are delighted to announce our intention to float on AIM which marks an exciting new chapter in In The Style’s journey so far.
“We have a fast-growing customer base, a highly relevant brand and a pipeline or exciting initiatives. We are confident that we can build on our strong foundation to achieve our growth plans.”
The company also announced that, on admission to AIM, it would appoint two new independent non-executive directors to its board: serial tech entrepreneur Nancy Cruickshank, non-executive director of Flutter Entertainment and Allegro Group, and Adam Bellamy, non-executive director at Ten Entertainment Group and Loungers.
Admission is expected to take place on or around 17 March, with Liberum Capital acting as sole bookrunner.
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