96% sales rise and US plans for My-wardrobe.com

The affordable luxury fashion and accessories online My-wardrobe.com has unveiled rocketing growth in sales, exactly a 96 per cent over the past year. The e-tailer is planning to step in US soil and expand its international presence.

This beat the 83 per cent growth achieved in the year-earlier period, as shoppers in the UK, continental Europe and the US bought affordable luxury brands, such as D&G, See by Chloé and J Brand jeans.

My-wardrobe reported Tuesday that in the first quarter of 2011, sales from continental Europe jumped 118 per cent, far ahead the 64 per cent increase in the first quarter of 2010. As figures prove, the recent re-launch of its womenswear site at the end of February and plans to re-launch its menswear site for Spring 12, coupled with a juicy financial boost last year ($9m investment from Balderton Capital), seem to be paying off already.

Sarah Curran, founder and chief executive of the privately owned company, said: “The past 12 months and first quarter of 2011 has been a pivotal time for my-wardrobe.com. Not only have we seen phenomenal growth in the UK market, but we have already seen a significant rise in sales across Europe as we lay the foundations for our international expansion.”

“The new direction has proved that price resistance is not an issue if the product is right,” said Ms Curran. Defying the austere spending, My-wardrobe.com is targeting the big expat community, mainly the English-speaking populations. “The position of everyday luxury is one that resonates globally, but now it’s about ensuring that our product and site experience is tailored to an international audience,” reported the Financial Times. Key areas in the online retailer also are US, Eastern Europe, Australia and the Middle East.

The company CEO explained consumers were keen on “statement pieces” to update their wardrobes and carry them through from office to evening, and from work to weekend. My-wardrobe has also benefited from luxury shoppers trading down to more affordable items for everyday wear.