In the Style revealed it has delivered a period of strong growth over the festive period, with total net sales rising 21.5% to £11.2m, or 225.9% on a two-year basis in the run-up to Christmas.
In the eight weeks to 31 December 2021, gross order value also increased 41.4% to £15.2m. On a two-year basis, this represented a growth of 178.4%.
Growth was largely driven by a “very strong” performance across its e-commerce channel, which comprises the In The Style website and app. Net sales, or sales post-customer returns, increased 34.5% year on year to £9.1m, representing an increase of 204.7% on a two-year basis.
Sales through the In The Style App increased by 72.3% year on year and represented 67.1% of total sales for the period.
In addition, the group noted that returns rates have reduced over the period against H1, and that there has been “good progress” in implementing measures to reduce return rates in the future.
Overall, it said it achieved top line growth in line with expectations, despite ongoing industry-wide headwinds caused by supply chain constraints.
Looking ahead, following the positive sales performance during the Christmas period, the group anticipates achieving strong revenue growth for the year ended 31 March 2022, with revenue in the range of £55m to £57m.
Sam Perkins, CEO of In The Style, said: “The group has continued its excellent growth to achieve a strong sales performance during the important golden quarter.
“This outcome was achieved despite the well-documented uncertainties facing both consumers and retailers during the period and is testament to the appeal of the In The Style brand, continued positive momentum across several key customer metrics, and the success of our recent influencer collaborations.”
He added: “I’m very excited to have now joined In The Style. Underpinned by the strength of the group’s differentiated business model and strong brand as well as the important investments that have been made in ITS’s infrastructure, technology and team, we have so many exciting long-term growth opportunities to go for.
“We have a strong pipeline of new partnerships and collection launches, and I am looking forward to working closely with our excellent team to achieve our objectives.”