Answear.com plans a debut on WSE

The owner of Answear.com, the leading digital clothing sales platform in Central and Eastern Europe submitted the Prospectus for approval to the Polish Financial Supervision Authority. The company wants to make its debut on the main market of the Stock Exchange. The debut is planned for the end of 2020.

Answear.com is an on-line sales platform with branded clothing, footwear and accessories that has been operating since 2011. The company currently operates in 7 Central and Eastern European countries: Poland, Czech Republic, Slovakia, Hungary, Romania, Bulgaria and Ukraine. The sales are geographically diversified and none of the markets represents more than 30% of the Company's total revenue.

- Soon, Answear.com will join the group of listed companies. This is a natural step related to the dynamic development of the business, the already large scale of the business and an even greater appetite for the future. We have submitted the Prospectus to the Polish Financial Supervision Authority, which means that we are getting closer to our debut on the main market of the Warsaw Stock Exchange. – comments Krzysztof Bajołek, president of Wearco S.A. – the company is pending the change of its name to Answear.com S.A.

The store offers about 80 thousand products from over 350 world brands. Premium brands are an important part of the offer (e.g. Diesel, Guess Jeans, CK, Tommy Hilfiger, Valentino, DKNY). Products from the lower price range are based mainly on the Answear LAB private label.

- We are the first player in the segment of electronic sale of clothing and footwear on the markets of Central and Eastern Europe. Thanks to this, we gain advantage in the field of brand recognition and lower marketing costs. Our customers appreciate our excellent service in the form of fast delivery, easy returns, and an attractive loyalty program. We also benefit from the rapid growth of the e-commerce market – adds Krzysztof Bajołek.

According to experts, the value of e-commerce in Poland may exceed a record PLN 100 billion already in 2020. According to Unity Group's estimates, in the following years until 2025 its value will grow by at least 20% a year. The clothing and footwear market in Poland, on the other hand, is expected to reach PLN 40.3 billion in 2020, which means a 4.13% y/y growth*.

- Answear.com is growing dynamically both in terms of number of customers and sales. Already last year was very good - the company's sales revenue in 2019 amounted to PLN 311.2 million, which means an increase of about 40.9% y/y, and this year we observe a further, surge in interest in on-line purchases in the entire region of Central and Eastern Europe. – says Krzysztof Bajołek.

The owner of Answear.com platform is Wearco S.A. The company is pending registration of the change of its name to Answear.com S.A.

After its approval by the Polish Financial Supervision Authority, the prospectus will be published on the Company's website https://answear.com/relacjeinwestorskie.

*PMR Report - Clothing and footwear retail market in Poland 2019, (November 2019)