Answear.com with sales revenue growth of 72 percent year-over-year in Q3 2021.

Answear.com, the first Polish online multibrand fashion retailer in the CEE region, generated 154.8 million PLN revenue on sales in Q3 2021, which means growth by 72% y/y, and for the period of 9 months this year the revenue amounted to 424.3 million PLN, which is 61% more than in the same period last year. EBITDA generated since the beginning of the year increased by over 52% y-o-y to PLN 27.7 million. In Q3 alone, it reached PLN 10.1 million. In turn, the net profit for 9 months of this year amounted to PLN 11.9 million, which means a growth by 172.4 per cent year-on-year. Currently, the fourth quarter is in progress and it is historically the best period for the company.

The third quarter is a period of continuation of the positive trend in sales growth throughout 2021. The annual quarterly online sales growth rate of 74 per cent is primarily the result of a dynamically growing product range in the premium segment and the introduction of brands such as Superdry, Boss, Paul&Shark, Tiger of Sweden, Aeronautica Militare, Marella, Victoria Victoria Beckham and Chiara Ferragni.

We are pleased with the continuous growth of online sales and revenues generated by the Company. This is the result of consistent implementation of the strategy to increase premium products, which directly translated into almost 18% increase in the average value of the order in the third quarter of this year compared to the same period last year. Additionally, in the last months we continued marketing activities on all markets, where we sell, which directly contributed to further strengthening of the brand awareness and position on the market - said Krzysztof Bajołek, CEO of Answear.com.

Third quarter of 2021 was the first full period, when Answear had mobile applications launched in all markets and migrated all shop versions to the new technology platform. The new environment is characterised by high user experience, faster performance and optimised shopping process, which translates directly into higher order value and conversion. At the same time, growing sales revenues and improving margins have allowed us to increase the marketing budget and implement wide-ranging media campaigns, which, combined
combined with effective use of funds allocated for digital marketing, significantly supported sales increases both in Q3 2021 and in the whole 9 months of this year.

Answear.com is also increasing its warehouse capacity and logistical efficiency. The release of additional space in the central warehouse in Kokotów and the completion of the mezzanine extension will increase the storage area by nearly 20,000 m2 this year, which secures space for further growth.

Last months were also about strengthening Answear.com position on foreign markets. The company started its activity on three foreign markets, i.e. Greece, Croatia and Cyprus. In the following periods, it plans to continue activities related to further expansion.

We are currently in the most intense period on the e-commerce market, the key elements of which are Black Friday, Cyber Monday and the pre-Christmas shopping period. As we know, it is the period of special promotions and peak sales for the whole year, for which we are very well prepared. We hope, that in case of Answear.com it will have a significant influence on the results for this quarter, as well as for the whole year 2021. - he added.