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In The Style annual revenue growth boosted by influencer partnerships

Sophie Smith
28 April 2022

In The Style has released its financial results for the year ending 31 March 2022, crediting its "strong revenue growth" to the success of influencer partnerships.

The group expects to report, subject to audit, revenue of £57.3 million, which equates to 28% growth year-on-year and 197% growth on FY20. Adjusted EBITDA margin will be in line with guidance at 1%.

Industry-wide challenges in the global supply chain resulted in pressure on gross margin throughout FY22. However, In The Style reported 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 Jac Jossa, Gemma Atkinson and Stacey Solomon.

The group attracted on average 33,000 new customers a month in FY22, with the In The Style app seeing over 850,000 downloads. The company suggests that app downloads may have contributed approximately a 9% increase in overall order frequency and a 21% increase in average order value.

Looking ahead, In The Style is "confident" that the execution of strategic initiatives and new influencer partnerships will maintain its sales momentum achieved during FY22 and improve profitability during FY23.

Sam Perkins, CEO at In The Style, said: “I am pleased to report that In The Style achieved a strong year of revenue and customer growth. This continues to be underpinned by the strength of our inclusive brand and our highly distinctive social-influencer collaboration model, which has the major advantage of creating real engagement with consumers in a cost-effective way.

"In The Style is very well positioned to continue its impressive growth and improve its profitability during FY23.”

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