Answear.com with sales revenue up 52 per cent y-o-y in Q1 2023

Answear.com, a leading e-commerce offering fashion and home & lifestyle products in the CEE region, according to preliminary data generated in Q1 2023 PLN 271 million in sales revenue, an increase of 52 per cent y-o-y. Despite the challenging market environment, the Company is recording high growth rates, which allows it to be considered one of the fastest growing fashion e-commerce platforms in Europe.

We started 2023 with strong sales results for the first quarter. The very good figures are the result of consistent implementation of our strategy and the use of our brand's built potential in 11 markets in the CEE region. The results achieved place us among the fastest growing fashion e-commerce in Europe. It also proves that our business has solid foundations and is able to grow by more than 50 per cent year on year despite the difficult market situation. - comments Krzysztof Bajołek, CEO of Answear.com.

In the first quarter of this year. Answear continued on all markets marketing activities focused on building brand awareness through wide-range TV and video-online campaigns. In addition, the Company flexibly and reactively managed marketing budgets by strengthening sales in markets where it sees the greatest effectiveness of its campaigns, to the benefit of global sales growth.

We are consistently achieving positive sales growth in all 11 markets, bringing us closer to our goal of becoming the fashion e-commerce leader in the CEE region. Our growth is supported, on the one hand, by agile management of marketing budgets and activities aimed at strengthening brand awareness, and on the other hand, by constant work on optimisation of our product offer - adds Jacek Dziaduś, Vice President of the Management Board for Finance of Answear.com.

In addition, the Company made good use of the sales period and optimally planned its purchasing budgets, which allowed it to accelerate stock turnover and optimise margins.