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Fashionette reports Q3 net sales growth of 41.6 percent

By Prachi Singh

16 Nov 2021

Business

Image: Fashionette media gallery

European online platform for luxury fashion accessories, Fashionette AG reported an increase in net sales in the third quarter of 2021 by 41.6 percent to 31.8 million euros compared to the previous year, while net sales in the nine-month period increased by 31 percent to 80.7 million euros.

Commenting on the company’s trading performance, Daniel Raab, CEO of Fashionette AG said: “Q3 was an important quarter for us, as the integration of Brandfield and the migration to our new logistics service provider were implemented. Due to the improved shopping experience, we can confirm that the growth of Fashionette.com started at the end of September and accelerated again at the beginning of November and met our expectations.”

The company’s gross profit margin grew to 39.6 percent in the third quarter due to the consolidation of Brandfield and the high proportion of own brands with higher profitability. Gross profit margin remained argely unchanged at 38.4 percent in the first nine months.

Fashionette said, adjusted EBITDA decreased to negative 0.3 million euros in the third quarter due to a planned increase in marketing costs, while adjusted EBITDA in the nine-month period was negative 0.1 million euros.