Fashionette reports strong Q1 with 54.4 percent of revenue growth

In the first quarter, Fashionette AG reported net revenues of 36.2 million euros translating into 54.4 percent consolidated growth or 7.6 percent pro forma growth.

The company said, both Fashionette and Brandfield have contributed to this growth and delivered positive adjusted EBITDA margins for the first quarter of 2022, resulting in 0.6 percent EBITDA margin for the group.

Commenting on the first quarter results, Daniel Raab, CEO of Fashionette AG said: "The first quarter started on a very high note and our performance was strong during the first two months of the quarter. While both companies have been impacted by consequences of the current geopolitical climate, both delivered profitable growth and specifically, Fashionette has been able to withstand the volatility of the macroeconomic environment.”

The company increased its active customers by 158 thousand to 984 thousand, translating into a 19.2 percent growth compared to the first quarter of 2021. On the Fashionette platform alone, the number of new customers increased by 7.2 percent.

In addition, the company recorded continued strong customer metrics, with an increase of 4.9 percent in average order value and number of orders by 4.9 percent year-on-year.