The successful launch of a collection of wardrobe staples has given online fashion retailer In The Style a major boost, prompting the company to say this morning that it is making solid progress in its growth plan.
The own brand’s core product line has moved away from its traditional influencer campaigns and will bring more sales opportunities, In The Style said.
The digital brand told shareholders at its annual general meeting this morning that the value of orders for the launch of the collection was one of the highest of all year.
The retailer said it has also completed moving its operations to a larger, more efficient warehouse where it expects to cut costs.
However, the company has sounded the alarm over the difficult trading environment which has affected both consumers and retailers.
Inflation in the UK hit double figures in early summer, weighing on household budgets and putting pressure on some retailers to raise prices.
But being an online-only fashion retailer means the group can respond more quickly and easily to changing consumer behavior, bosses say, suggesting it can change stock or promotions to meet demand.
Sam Perkins, Managing Director of In The Style, said: “We have made solid progress against the group’s refined long-term growth strategy outlined in our full year 2022 results in July.
“As has been widely reported, the trading environment is challenging for both consumers and retailers.
“The launch model and our position as a pure-play online retailer allows us to react quickly to changing consumer behavior, without losing sight of realizing In The Style’s long-term potential as a one of the UK’s most exciting fashion brands.”