In The Style has seen its annual revenue grow

In The Style has seen its annual revenue grow by 28% to £57.3 million in its first full year as a public company.

In the 12 months to 31 March, direct-to-consumer revenue increased by 23% to £44.7 million while wholesale revenue climbed by 52% to £12.6 million.

The retailer attributed the uplift to the ongoing expansion and optimisation of its influencer-based business model. Influencers in the period included the likes of Jac Jossa, Lorna Luxe Perrie Sian, Gemma Atkinson and Stacey Solomon.

However, adjusted EBTIDA came in at £0.6 million compared to £3.8 million a year earlier. In addition, the company made a pre-tax loss of £1.5 million versus a previous profit of £0.1 million after it invested in its technology platform and increased its working capital requirements due to growth within the wholesale channel.

In The Style said trading in the first quarter of the new financial year was robust with year-on-year revenue growth in its direct-to-consumer channel of 12%.

Looking ahead, the company said it expects full year revenue to be broadly flat, with direct-to-consumer sales growing at mid-single digit rates. It is also forecasting an adjusted EBITDA loss of £2 million.