Finery posts sales of £5m in first year of trading
Finery, the contemporary online fashion retailer founded by a team of ex-ASOS and Topshop experts, has exceeded its first-year targets generating £5million in revenue.
The label set out to bring "the sensibilities of a design house to a high-street business model". 100% of Finery product is designed in-house, which the brand says has helped set it apart from competitors. It has attracted more than 3 million visitors to its site since its launch in February 2015 and now claims a 100,000-strong customer base.
Nickyl Raithatha, CEO and co-founder said he "couldn't be happier with how this year has unfolded. Our objective from the outset was to retain full autonomy of our product, and respond to a very specific demand - for considered, carefully crafted collections at an accessible price point.
The calibre of our team, and our belief in this business model, meant that our first-year targets were high and we're thrilled to have surpassed them. This is a crowded marketplace, and we work very hard to stand out," he said.
Finery’s Brand Director and co-founder, Caren Downie (previously fashion director at ASOS and buying director at Topshop) leads a handpicked team of industry leaders who all made their names at ASOS or Topshop, including head of design, Emma Farrow and head of buying, Rachel Morgans Brooks.