Online fashion retailer In The Style has revealed that it expects turnover for the full-year period ending 31 March 2021 to be no lower than £44.5m, a year on year increase of more than 130%.
During the period, the retailer said that new customer generation increased by 19% to 420,000, driven by the “growing appeal” of the In The Style brand and its influencer partners.
It added that sales through the proprietary In The Style App also increased by more than 400% during the year. The app, which gives customers early access to collection launches and aims to drive greater customer engagement and conversion, represented 55% of total sales for the period, up from 19% for the prior year.
Following the period end, In The Style said it has “continued to progress” against its long-term growth strategy. In April, the group announced one of its largest ever partnerships, with TV personality and influencer Stacey Solomon as well as a partnership with Asda, which will see In The Style introduce selected ranges to approximately 100 Asda stores across the UK in the first quarter of FY22.
Adam Frisby, CEO and founder of In The Style, said the firm has managed to “maintain” its “strong momentum” since its successful IPO in March.
He said: “In The Style continues 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. 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 27 April underpins our confidence that this would generate an amazing reception from our customers and Stacey’s followers.”
He added: “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.
“We look forward to building on this momentum into FY22 to deliver our growth plans and create further value to all stakeholders.”