In The Style follows IPO with 132% revenue rise

Salford-based fashion firm In The Style said on Tuesday its revenue soared 132% to £44.7 million in the 12 months to March 31, 2021, and adjusted profit before tax increased to £2.5 million compared to a loss of £2.2 million in the previous year.

In The Style said it had a successful IPO in March, 2021, raising £11 million in gross proceeds from institutional investors to support the group’s long-term growth.

On current trading and outlook, In The Style said sales in the first quarter of the FY22 financial year are 44% ahead of the prior year, despite the strong lockdown comparatives in FY21.

In The Style CEO Adam Frisby said: “FY21 was a transformational year for In The Style, during which we delivered outstanding growth and strategic progress while remaining true to our mission of empowering our customers to be brave, embrace body confidence and, most of all, love themselves for who they are. 

“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.

“I’d like to take this opportunity to thank our partners, colleagues, and customers as well as both our old and new shareholders for their support of the In The Style brand.

“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.”