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In The Style has reported pre-tax profits of £125,000 for the 12 months ended 31 March 2021, up from a previous year’s loss of £2.1m.
Revenue also witnessed a sharp increase, rising by 132% to £44.7m up from £19.3m in 2020, benefiting from a 30% growth in customer website visits.
Meanwhile, direct-to-consumer revenue grew by 108% to £36.4m up from £17.5m, whilst wholesale revenues increased 353% to £8.3m, up from £1.8m the previous year.
The retailer also benefited from its recent IPO in March 2021, which raised £11m in gross proceeds from institutional investors to support the group’s long-term growth.
Adam Frisby, CEO and founder of In The Style, said: “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.
“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.”
He added: “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.”
