In full-year results out this week, fashion pureplay Boohoo.com unveiled fast growth in both sales (£294.6m in the year to February 28, +51% on last year) and pre-tax profits (£30.9m, +97%). We took a look at the strategies driving that success.
Joint chief executives Mahmud Kamani and Carol Kane said: “This year has also seen some major capital and infrastructure expenditure. We invested in a large warehouse extension and additional office space to provide for our planned further growth and we have secured planning permission for the next stage of the warehouse expansion. We have also invested in a new website platform for boohoo, which has brought many improvements, including website flexibility and response times.”
While the UK remains Boohoo.com’s largest market, it said 140% growth to revenues of £39.6m in the US market exceeded its expectations. In Europe growth came in at 50% (or 44% after exchange fluctuations were discounted) and in the rest of the world it was 40% (42%).
The retailer enables customers to get in touch via social media channels including WhatsApp. To date, said Boohoo,…