Adore Beauty’s earnings rise amid record number of returning customers
Adore Beauty enjoyed improved earnings in the last fiscal year, thanks to the record number of returning customers, accounting for 79 per cent of product sales.
The online beauty retailer’s earnings before interest, taxes, depreciation, and amortisation (EBITDA) surged 661 per cent to $4.8 million while revenue grew 7.4 per cent to $195.7 million.
The company saw record 519,000 returning customers, up 5.8 per cent. Active customers rose 1.6 per cent to 814,000.
Customer retention and brand awareness grew to 64.7 per cent and 71 per cent, respectively.
The company ended the fiscal year with 61 products across its AB Lab, Viviology and Adore Beauty house brands after adding 23 new SKus to its portfolio.
“Investment in brand and above-the-line marketing is strongly driving awareness of Adore Beauty, achieving a record 71 per cent in our target audience – up from 62 per cent last year,” said Tamalin Morton, Adore Beauty CEO.
“Our expanding product offer, private label portfolio, and our first Adore Beauty store footprint, further diversify our revenue and margin profile and support our long-term profitability targets.”
Meanwhile, Adore Beauty saw revenue climb 7 per cent year over year in the first seven weeks of the current fiscal year.
The brand signed leases for two Adore Beauty retail concept stores, which are expected to open in the fiscal second half.
In July, Adore Beauty acquired Ikou and is targeting $10 million in revenue in the first year of ownership.
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