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Birmingham Post
Birmingham Post
Business
Jon Robinson

Sales surged 130% at online womenswear fashion brand In The Style ahead of AIM float

Turnover at online womenswear fashion brand In The Style surged by more than 130% in the year before the Salford-headquartered company floated on the London Stock Exchange's AIM market.

The business has revealed its sales, subject to audit, for the 12 months to March 31, 2021, are set to be no lower than £44.5m, up from £19.3m.

In The Style added that it saw a rise in new customers during the year by 19% to 420,000.

The company also confirmed that following the strong trading performance, the group has returned the financial support previously claimed under the Coronavirus Job Retention Scheme.

The figures come after In The Style completed its float on March 15 with a market capitalisation of about £105m.

Chief executive and founder Adam Frisby said: "We have maintained our strong momentum since our successful IPO and delivered a very good performance for the year.

"I'd like to take this opportunity to thank our partners, colleagues and customers for their continued support of the brand during what has been a transformational year for In The Style.

"In The Style continues to do things differently by ensuring we empower our customers to be brave, embrace body confidence and, most of all, love themselves for who they are.

"Our collaboration model creates a strong customer connection, drives highly efficient customer acquisition marketing metrics, and gives us exposure to a broad range of customers.

"The success of this model has been highlighted since the year end by our exclusive partnership with Stacey Solomon.

"The collaboration with Stacey is one that we are really proud of and the hugely positive reaction to the launch of her maiden collection on 27 April underpins our confidence that this would generate an amazing reception from our customers and Stacey's followers.

"In addition, our nationwide partnership with Asda is also really exciting for the brand and will give In The Style fantastic levels of exposure and greater reach with our customers.

"We look forward to building on this momentum into FY22 to deliver our growth plans and create further value to all stakeholders"

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