{"id":212481,"date":"2022-07-19T08:07:19","date_gmt":"2022-07-19T07:07:19","guid":{"rendered":"https:\/\/www.theindustry.fashion\/?p=212481"},"modified":"2022-07-19T19:05:25","modified_gmt":"2022-07-19T18:05:25","slug":"in-the-style-sales-up-28-but-higher-costs-tip-it-into-a-loss","status":"publish","type":"post","link":"https:\/\/www.theindustry.fashion\/in-the-style-sales-up-28-but-higher-costs-tip-it-into-a-loss\/","title":{"rendered":"In The Style sales up 28% but higher costs tip it into a loss"},"content":{"rendered":"<p><span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/www.theindustry.fashion\/the_directory\/in-the-style\/\" target=\"_blank\" rel=\"noopener\">In The Style<\/a><\/span>, the influencer-led fast fashion retailer, posted sales up 28% in the year to 31 March 2022 but higher costs tipped it into a loss, which it expects to increase in the coming year.<\/p>\n<p><!--more--><\/p>\n<p>During the period, <strong>sales hit\u00a0\u00a357.3 million (up from \u00a344.7m)<\/strong><span class=\"Apple-converted-space\">\u00a0with direct-to-consumer (DTC) revenue up by 24% at \u00a344.7m and wholesale revenue up 52% at \u00a312.6m.\u00a0<\/span>Adjusted EBITDA for the year reached \u00a30.6m (down from \u00a33.8m) but at pre-tax level it posted a loss of \u00a31.5m versus last year's profit of \u00a30.1m.<\/p>\n<p>Looking ahead, amid \"very uncertain\" market conditions, In The Style said it was <strong>expecting revenue to remain flat for the coming financial year with\u00a0an adjusted EBITDA loss for the year of \u00a32m.<\/strong><\/p>\n<p>Highlights from the last financial year include a 1<strong>3% increase in total orders to\u00a01,523,000<span class=\"Apple-converted-space\">\u00a0and a 21% increase in average order value to \u00a352.\u00a0<\/span><\/strong>New customers increased by 391,000 in the year while the active customer base grew by 4% to 677,000.<\/p>\n<p>In The Style's unique business model involves creating collections with high profile influencers and sharing the proceeds to ensure the influencer is fully invested in the collection's success.<\/p>\n<p>During the past year it created 193 collections with 27 influencers adding new names to its line-up including <strong>TV personalities Jac Jossa and Stacey Solomon and influencers Lorna Luxe and Perrie Sian.<\/strong><\/p>\n<p>It recently created a line with the late Dame Deborah Dames to promote her bowel cancer awareness with the proceeds going to Dame Deborah's Bowel Babe fund for Cancer UK. The line raised \u00a31.25m.<\/p>\n<p>At the start of the year<strong> new CEO Sam Perkins, formerly of Very Group, took over replacing In The Style founder Adam Frisby who remains as chief brand officer.<\/strong><\/p>\n<p>Commenting on the results Perkins, said: \"In The Style has delivered further strong revenue growth, representing almost +200% on a two-year basis. This has been supported by encouraging improvements across all our key customer and brand metrics.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p>\u201cOur purpose is to inspire confidence, and this drives us to create unique products that help our customers to feel great about themselves. We have a strong, inclusive brand and differentiated influencer collaboration model which gives us fantastic reach, highly effective marketing, and broad customer appeal. This underpins our long-term confidence to create one of the UK\u2019s most exciting fashion brands.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p>\u201cThis year is expected to be a challenging one for consumers and retailers. We are taking actions to respond including prudent cost control, cash management and executing against our refined growth strategy.\"<\/p>\n","protected":false},"excerpt":{"rendered":"<p> [&hellip;]<\/p>\n","protected":false},"author":11,"featured_media":212482,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[9763,10585,6,10494],"tags":[13861,12797,13103],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>In The Style sales up 28% but higher costs tip it into a loss - TheIndustry.fashion<\/title>\n<meta name=\"description\" content=\"In The Style, the influencer-led fast fashion retailer, posted sales up 28% in the year to 31 March but higher costs tipped it into a loss,\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.theindustry.fashion\/in-the-style-sales-up-28-but-higher-costs-tip-it-into-a-loss\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"In The Style sales up 28% but higher costs tip it into a loss - TheIndustry.fashion\" \/>\n<meta property=\"og:description\" content=\"In The Style, the influencer-led fast fashion retailer, posted sales up 28% in the year to 31 March but higher costs tipped it into a loss,\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.theindustry.fashion\/in-the-style-sales-up-28-but-higher-costs-tip-it-into-a-loss\/\" \/>\n<meta property=\"og:site_name\" content=\"TheIndustry.fashion\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/theindustryfashion\/\" \/>\n<meta property=\"article:published_time\" content=\"2022-07-19T07:07:19+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-07-19T18:05:25+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.theindustry.fashion\/wp-content\/uploads\/2022\/07\/Image-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1536\" \/>\n\t<meta property=\"og:image:height\" content=\"837\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Lauretta Roberts\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@theindustryfash\" \/>\n<meta name=\"twitter:site\" content=\"@theindustryfash\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Lauretta Roberts\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.theindustry.fashion\/in-the-style-sales-up-28-but-higher-costs-tip-it-into-a-loss\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.theindustry.fashion\/in-the-style-sales-up-28-but-higher-costs-tip-it-into-a-loss\/\"},\"author\":{\"name\":\"Lauretta Roberts\",\"@id\":\"https:\/\/www.theindustry.fashion\/#\/schema\/person\/85b04a16eba8c6cd7a9534c5a4262b89\"},\"headline\":\"In The Style sales up 28% but higher costs tip it into a loss\",\"datePublished\":\"2022-07-19T07:07:19+00:00\",\"dateModified\":\"2022-07-19T18:05:25+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.theindustry.fashion\/in-the-style-sales-up-28-but-higher-costs-tip-it-into-a-loss\/\"},\"wordCount\":415,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/www.theindustry.fashion\/#organization\"},\"keywords\":[\"Adam Frisby\",\"In The Style\",\"Sam Perkins\"],\"articleSection\":{\"0\":\"Fashion\",\"1\":\"Finance\",\"3\":\"News &amp; 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