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Fashionette posts 29.6 percent sales growth in 2020

By Prachi Singh

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In a preliminary results announcement for fiscal year 2020, Fashionette AG, said driven by increasing sales in all product categories, the company achieved growth in net revenues after returns and discounts of 29.6 percent to 94.8 million euros in 2020. The company added that adjusted EBITDA increased by 24.5 percent to 8.9 million euros, resulting in an adjusted EBITDA margin of 9.4 percent.

“With the growth realized in the 2020 financial year, we have exceeded our ambitious targets. Particularly through the strongly increasing number of new customers, we laid a great foundation to further accelerate our growth in the coming years. The good start into the current financial year leads us to expect a further acceleration of growth in Q1 2021 compared to the full year 2020,” said Daniel Raab, CEO of Fashionette.

The European online platform for premium and luxury fashion accessories with a regional focus on Germany, Austria and Switzerland (DACH) region also reported that the operating cash flow almost tripled to 5.2 million euros. The company further said that bank liabilities were fully repaid and with financial resources of 31.8 million euros, Fashionette has sufficient capital to finance its further growth plans.

With an increase of 63.2 percent to 240.1 thousand new customers, Fashionette’s overall active customer base increased by 49.7 percent to 357.1 thousand.

Fashionette