PrettyLittleThing sales close on boohoo’s
Rocketing sales at PrettyLittleThing could see it catch those of boohoo this year.
Explosive growth at the boohoo group subsidiary saw year-to-date revenues of £312.8m, up a massive 114 per cent.
That compares with original eCommerce brand boohoo’s yearly revenues of £372.5m, a rise of 15 per cent.
Online fashion retailer boohoo group is responsible for brands boohoo.com, PrettyLittleThing and Nasty Gal and reported 44 per cent overall growth in the final four months of 2018.
PrettyLittleThing posted the largest increase in that period, with £144.2m revenues, up 95 per cent on the corresponding period a year earlier.
Boohoo’s revenues for the four months were £163.5m, up 15 per cent.
Nasty Gal posted four-month revenues of £20.6m (up 74 per cent) with year-to-date sales of £38.3m (up 89 per cent).
“We are delighted to be reporting yet another great set of financial and operational results and would like to say a very big thank you to all our team and customers,” said joint-CEOs Mahmud Kamani and Carol Kane.
“We remain firmly focused on continuing to provide our customers with great fashion at unbeatable value.
“The global growth opportunity is significant and we will be addressing it in a controlled way – investing in our proposition, operations and infrastructure to capitalise on the opportunity.”
The listed group was founded in Manchester in 2006. Starting life as boohoo.com, it extended its customer offering through the acquisitions the PrettyLittleThing and Nasty Gal brands in 2017.