Answear.com reports nearly 24% growth in online sales in Q4 2024
Answear.com, a leading e-commerce platform offering fashion, home & lifestyle, and outdoor products in the CEE region, has announced preliminary sales results for Q4 2024. Online sales reached PLN 546.3 million, marking a year-on-year increase of 23.6%. For the entire 2024 fiscal year, online sales totaled PLN 1,520.4 million, reflecting a year-on-year growth of 19.8%. The strong sales performance is attributed to the well-prepared Fall-Winter 2024 collection and the second phase of Answear's branding campaign featuring premium brands.
- We’ve had a successful end to the year, with Q4—traditionally a busy period in our industry—delivering excellent sales results. We are pleased to report another consecutive quarter of robust revenue growth, which clearly sets us apart from the competition. We remain committed to our strategy of strengthening our position in the premium segment and enhancing our product offerings, and the achieved sales growth validates our approach - commented Krzysztof Bajołek, CEO of Answear.com.
In Q4 2024, Answear.com recorded a strong year-on-year revenue growth rate exceeding 22%, bringing the company’s full-year revenue growth rate to 19.2%, up from the 17.6% reported after three quarters.
2024 was a year of intensive investment for Answear.com. The company executed key initiatives, including the development of the recently acquired PRM brand, repositioning the Answear.com platform, and opening concept stores in Norblin Factory. These strategic actions contributed to a positive growth trend, with the primary investments related to these changes occurring during the first three quarters of the year.
- In the last quarter and looking ahead, we expect a gradual improvement in profitability. During Q4 2024, we continued an extensive branding campaign, which naturally involved higher marketing expenses. However, with increased sales, these costs had less of an impact on the company's results compared to earlier periods in 2024. The adopted strategy and growing scale of operations allow us to optimistically anticipate further profitability growth - added Jacek Dziaduś, CFO 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.