Boohoo announces 40% rise in full-year revenue

I’ve found myself more recently looking at Boohoo’s website more often and ordered my first purchase the other day – a khaki bomber. I then received my daily drapers email saying that the etailer’s revenue has increased by 40% to £195.3m. I thought about what they were doing so right and found the article an interesting read. They now have more than 4 million active customers and launched apps for the UK, US and Australia.
Mahmud Kamani and Carol Kane, joint CEOs, commented: “We are pleased to report a year of strong revenue growth across all geographic regions. Active customer numbers, order frequency and conversion have all increased on last year as we continue to invest in building customer lifetime value. By refining the mix of promotional and marketing expenditure in each of our key markets, we have achieved growth ahead of our plans.”
Boohoo have expanded their product range, which has been well received by customers and have added a petite range and plus-size range. These both continue to grow. Their mobile experience has also been enhanced, introducing more flexible delivery and return options and later next day delivery cut off times.

I look forward to seeing how Boohoo continue to strive in the e-tail world and compete against their ever increasing competitors.

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