Boohoo Group is one of the leading online fashion retailers in the UK. The company was founded in 2006 and saw a steep increase in sales over the years. Acquiring several high-street fashion brands, among them Karen Millen, Dorothy Perkins, and Debenham. With a total of 13 brands, Boohoo Group today caters to several different customer groups, with a focus on fashion-conscious 16- to 40-year-olds. Between 2019 and 2021, the group acquired a total of nine brands to add to their multi-brand portfolio. This is one of the reasons for the incredible increase in revenue over the past two years. From GBP0.9 billion in FY19 to GBP1.7 billion in FY21.
Fourth biggest fashion online pure player
The broadened brand portfolio also pushed other KPIs significantly. EBITDA more than doubled between FY19 and FY21. In addition, the active customer base increased to 18 million in FY21, up from 11 million in FY19. Like many other e-commerce players, Boohoo Group profits from a positive COVID-19 effect in revenue.
Although the adjusted 2021 EBITDA margin lost 0.2% over the 2020 margin, as a consequence of risen COVID-related costs, among other reasons. Boohoo Group‘s main online store boohoo.com reflects the steep upward growth trend of the company. Boohoo.com is currently the fourth biggest fashion online pure player in the UK e-commerce market by net sales after asos.com, very.co.uk, and amazon.co.uk. Moreover, sales figures hint at a promising future.
Net sales generated increased by 35%
Boohoo.com looks back on a history of steady net sales growth. Compared to 2014, boohoo.com produced more than five times the as high a net sales amount in 2020. Following steady double-digit growth year after year. While year-on-year growth rates had been shrinking from 40% in 2015 to 15% in 2018, the year 2019 again saw a substantial acceleration in growth. Between 2018 and 2019, net sales generated via boohoo.com increased by 35% from GBP410 million to GBP554 million.
Boohoo is approaching one billion in net sales
The COVID-19 outbreak then brought along even higher growth. Net sales grew by 36% year-on-year, reaching a total of GBP754 million. Growth is forecast to slow down in the next years to around 14% year-on-year, but boohoo.com is clearly approaching the magic threshold of GBP1 billion in net sales. If the developments continue, the GBP1 billion mark can be surpassed in the near future.