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Boohoo

Boohoo announces blogger collaboration and foreign expansion as revenue soars by 63%

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By Natalie Mortimer, N/A

June 12, 2014 | 2 min read

Online clothing retailer Boohoo has revealed plans to team with fashion blogger Nadia Aboulhosn on the launch of an exclusive plus size collection, and to expand its website “in a number of European markets”.

The Manchester-based retailor shared the news in its financial statements year ending 28 February, where it also revealed revenue for the company hit £109.7m for the year – up 63 per cent – and profit before tax more than tripled to £10.7m.

It credited increased marketing spend in the first quarter of 2014 to an acceleration in growth, which saw May’s revenue growth double that seen in March.

Boohoo saw mobile traffic grow to 47 per cent, up 30 per cent in the previous year, and said that it is developing an updated mobile look and feel which “will be live shortly”, along with a more responsive mobile website planned for later in the year.

Joint CEO's Mahmud Kamani and Carol Kane said in a statement: "The past year has been an exciting one, and we are very proud of the growth we have seen in both our UK and International markets.

"The launch of new product categories, investment in our warehouse and IT infrastructure, and of course the investment and development of our teams all support our future growth. The company is well positioned to benefit from its transformation to becoming a PLC after its successful IPO."

Over the coming months the retailer plans to add Scandinavian currency to its flagship website as well as launching additional local language websites, following the success of its French language website in November 2013 – which has seen revenue growth of 90 per cent since launch.

International sales grew strongly in the year and represented 35 per cent of total revenue.

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