Answear.com targets PLN 100 Million EBITDA in 2026

Answear.com, one of Central Europe's leading premium and high-end fashion retailers, has announced its financial results for Q4 2024 and outlined ambitious objectives for the coming years. In the last quarter of 2024, Answear.com achieved a gross margin of PLN 217 million, representing a year-over-year increase of 32%. EBITDA more than doubled, reaching PLN 39 million. These solid results mark the company's return to a growth trajectory and reflect the initial benefits of strategic investments in business transformation and premiumisation of its offering. Answear.com has set ambitious goals: achieving PLN 80 million EBITDA in 2025 and PLN 100 million in 2026.

"2024 was a year of intense investment and strategic reorientation for us. We focused on expanding our assortment, increasing marketing activities, launching a concept store, and onboarding new brands. I can now confidently say that this effort has paid off – we have rebuilt our revenue momentum, and operating profitability has returned to a satisfactory level. With the investment phase behind us, we are beginning to reap the rewards, as evidenced by our financial results. We are confident that the best is yet to come," commented Krzysztof Bajołek, CEO of Answear.com.

In Q4 2024, Answear.com generated revenues of PLN 533 million, an increase of 24% year-over-year. When adjusted for the impact of the stronger Polish złoty, revenue growth in constant currency would have reached 30%. Particularly noteworthy is the strong performance in the Polish market, where sales increased by 45% year-over-year. Revenues from the PRM segment reached PLN 46 million, nearly doubling compared to the previous year. Despite a challenging market environment, Answear.com remains the fastest-growing fashion e-commerce platform in Europe.

"We have built a solid foundation for continued dynamic growth – both in terms of revenue expansion and profitability improvement. We have set ambitious targets: to achieve PLN 80 million EBITDA by the end of this year and PLN 100 million in 2026. These goals reflect our strong belief in the direction we’ve taken and our vision to become the market leader in the premium and high-end fashion segment in Central Europe,"added Krzysztof Bajołek.

Answear.com estimates that it has completed its product range transformation towards the premium segment. The inclusion of new brands is attracting a more discerning customer base, willing to pay more for quality and design. As a result, the average basket value is increasing, the sales mix is improving, and the brand is strengthening its position within the premium segment.

"In 2024, we made record-high marketing expenditures totaling PLN 308 million, executing broad-reaching campaigns that significantly enhanced Answear.com’s brand recognition. At the same time, we increased our capital investments, which totaled PLN 30.7 million, compared to PLN 11.6 million in the previous year. Among other initiatives, we invested in the opening of two concept stores at Warsaw’s Norblin Factory – unique spaces that not only highlight our brands but also attract new premium partners to our portfolio," said Jacek Dziaduś, CFO and Vice President of the Management Board at Answear.com.

The premium quality of Answear.com’s offering has been acknowledged by globally recognized brands, enabling the company to access higher-end segments (e.g., Adidas Originals, New Balance) and exclusive collections (e.g., Karl Lagerfeld Studio). In 2024, the portfolio was expanded with brands such as Versace Jeans Couture, Dolce & Gabbana, Philipp Plein, Hackett London, MM6 Maison Margiela, Valentino, Balmain Paris, Vanda Novak, Dynafit, Bogner, and Vilebrequin.