Online fashion retailer In The Style said it is making solid progress in its growth plan as it greets the successful launch of its staple clothing collection.
The digital brand told shareholders at its annual general meeting on Friday that the order value for the collection’s launch was one of the largest it had seen all year.
The range of its own-brand staples also marked a step away from traditional influencer campaigns and will open up more sales opportunities, In The Style said.
The retailer said it has also completed a shift of operations to a larger and more efficient warehouse, where it expects to cut costs.
We have made solid progress on the group’s refined long-term growth strategy, as outlined in our July 2022 FY results
However, the company sounded the alarm about the challenging trading environment that has affected consumers and retailers alike.
Inflation in the UK hit double digits earlier in the summer, putting pressure on household budgets and putting pressure on some retailers to raise prices.
But being an online-only fashion retailer allows the group to respond more quickly and easily to changing consumer behavior, according to bosses, suggesting it may adjust inventory or promotions to meet demand.
Sam Perkins, chief executive of In The Style, said: “We have made solid progress on the group’s refined long-term growth strategy, as outlined in our FY 2022 results in July.
“As has been widely reported, the trading environment is challenging for consumers and retailers alike.
“Its launch model and position as a pure-play online retailer allow us to respond quickly to changing consumer behaviour, without losing sight of the long-term potential of In The Style as one of the UK’s most exciting fashion brands.”