Answear.com increases sales revenue by 26 pct. y/y in Q3 2024
Answear.com, a leading e-commerce provider of fashion, home & lifestyle and outdoor products in the CEE region, summarizes its preliminary sales results for Q3 of this year. Preliminary sales revenues amounted to PLN 344 million, up 26 pct. y/y. The dynamics achieved indicates the Company's successful return to a path of high sales growth. The good sales results are the result of, among other things, a well-utilized summer sales period and a wide-ranging marketing campaign.
- We have a good sales quarter behind us. We are pleased that we have once again embarked on the path of dynamic sales growth, which distinguishes us from the competition and allows us to position ourselves as one of the fastest growing fashion e-commerce in Europe. We took good advantage of the summer sales period, we also properly selected the autumn collection, which significantly influenced our results in the third quarter of this year - comments Krzysztof Bajołek, Chief Executive Officer of Answear.com.
Answear.com's sales have clearly accelerated. In Q1 of this year, sales revenue growth was 6 pct. y/y, while in Q2 of this year it increased to 20 pct. y/y. Currently, it has already reached 26 pct. y/y. This is due, among other things, to intensive marketing activities, consistent premiumization of the offer, strengthening of the brand and gradual improvement in consumer purchasing power.
Answear.com has conducted a marketing campaign called “Dress your life with precious things” The project was launched in May this year and continues in the current season. The past campaign was implemented in 11 markets, its message was present in TV, cinemas, radio, OOH, DOOH and widely in digital.
- The sales dynamics in the past quarter satisfies us. However, it is worth remembering that Q3 is a traditional selling time in our industry, which naturally reduces margins. Nevertheless, given the solid sales performance, we are optimistic about Q4, which in our industry is a period of highest revenues and higher margins. In addition, marketing expenditures will not burden the result so significantly, due to the higher revenue volume achieved at that time - adds Jacek Dziaduś, Chief Financial Officer of Answear.com.
About Answear.com:
Answear.com is the first Polish online multibrand store offering a wide selection of clothes, shoes and accessories from over 500 global brands. The offer includes selected collections of women's, men's and children's brands such as premium, sports or denim. Answear.com currently operates in 11 markets, with plans to launch in more. Since its inception in 2011, it has won more than 50 awards and accolades, and has gained the recognition of thousands of customers to whom it provides constant fashion inspiration, collaborating with trendsetters and fashion experts. The company relies on its own logistics center and in-house IT solutions to achieve high operational efficiency, minimize costs and maintain attractive pricing for customers. All products included in an order are shipped in one package - for the sake of the environment and for the convenience of customers. In its operations, Answear focuses on fast delivery (even the same day in selected Polish cities) and quality service. It dedicates to its regular customers Answear Club loyalty program, which allows shopping at even more attractive prices.
About PRM:
The PRM brand is a response to the needs of the metropolitan community by offering selected high-end sneaker & clothing brands, as well as unique collaborations and activities that promote broader culture and design. It has unique product offerings from adidas, among others, as well as well-known and respected brands in Western Europe such as Coperni, Ganni, JW. Anderson, Kenzo, Marine Serre, Martine Rose, MM6 Maison Margiela, Rick Owens, Undercover, Vetements.