The Manchester-based company trading as Prettylittlething.com has been catapulted into making a £3.3m pre-tax profit from a £1.3m loss following the acquisition of 66% of its share capital by fast-fashion specialist Boohoo.Com PLC (LON:BOO)
21Three Clothing, otherwise known as Prettylittlething, has shortened its reporting period to the nine-months ended February 28, 2017, to align itself with Boohoo.com which bought the majority stake in the company on January 3.
Nevertheless, in those nine-months revenue increased to £47.7m – up 118% on the previous 12 months – while its gross margin increased to £27.1m (56.7%) against £12.1m (55.3%) in the prior year.
The company, registered on Dale Street, sells own-brand clothing shoes and accessories through the Prettylittlething.com websites to a core market of 16 to 24-year-old customers in the UK and globally.
Combining cutting-edge, aspirational design with an affordable price tag, it has grown rapidly since 2010, developing a brand identity and an international online proposition for customers and now has more than 1.3m customers.
In his strategic report, director Paul Papworth said Prettylittlething.com was now a well-established brand in the UK, Ireland, USA and Australia, selling products in upwards of 100 countries, operating through English language websites.
