Influencers and inclusivity boost In The Style revenues

Womenswear etailer In The Style has said it achieved strong revenue growth in the year to 31 March 2022 thanks to its influencer strategy and inclusive size offering.

In its first full year as a public company, the etailer said it expects, subject to audit, to report revenues of £57.3m, up 28% on 2020/21, and 197% against 2019/20.

Adjusted EBITDA margin will be in line with guidance at 1%, In The Style said. The EBITDA margin for the year ended 13 March 2021 was 8.5%, when the etailer reported a profit before tax of £2.5m, up 213% on the previous year.

“Industry-wide challenges in the global supply chain are well documented and, as previously indicated by the group, resulted in pressure on gross margin through the financial year,” it said.

However, the etailer said it was encouraged that, for a period in January and February 2022, prior to Russia’s invasion of Ukraine, “freight costs somewhat normalised”.

During the year, In The Style continued to leverage its social influencer collaboration model, launching collaborations with 27 influencers, including Perrie Sian, Gemma Atkinson and Stacey Solomon.

The group attracted on average 33,000 new customers a month through the financial year.

The In The Style app had more than 850,000 downloads in the year and this contributed to a 9% increase in overall order frequency and a 21% increase in average order value year on year. Read more….