WHILE the ‘Queen of Shops’, Mary Portas, continues to ponder what to do with the ‘struggling’ British High Street, Boohoo.com, a leading player on the virtual shopping market, has been basking in financial success this year.
The online fashion store, operating from Manchester’s Dale Street, is doing remarkably well.
With two million active customers, more and more shoppers turn to Boohoo.com as their regular fast-fashion source.
This week, Boohoo.com’s annual report revealed total net sales reached £67.3m, a 130% revenue increase from 2012.
UK sales increased by 68% to £43.8m and success was also found overseas with international sales skyrocketing from £2.9m to £23.5m.
Boohoo.com
This glowing result reflects the current proliferation of online stores that are beginning to dominate the retail market. With two million active customers, more and more shoppers turn to Boohoo.com as their regular fast-fashion source.
Speaking of their success, Mahmud Kamani, Joint Chief Executive of Boohoo.com said:
"Our absolute priority is to ensure our customers get what they want – fast fashion at value for money prices. We will never be complacent and will continue to go the extra mile in sourcing, designing and delivering the best products for our fashion conscious customers.”
Undoubtedly, Boohoo.com are champions of the recurring shopper term ‘fast-fashion’, that has come to mean an affordable way to mass consume trend-led clothes and accessories.
Boohoo.com also expects to list on the stock market in the first quarter of 2014.
