UK-based online clothing retailer Boohoo has seen its full-year group revenue increase 47.8% to £856.9m, in its full-year results.

The figures reveal that the Boohoo group has already outshone ASOS’ latest H1 results, with a 16.6% UK revenue growth. PrettyLittleThing has been a big hitter for the group. Revenue grew 106.6% to £374.4m, just £60.2m behind boohoo.com, and is predicted to surpass boohoo in UK market share this year.

Group operating profit grew 37.5% in the full year results, while boohoo.com revenue saw a 16.2% increase.

Boohoo CEO John Lyttle said: “This has confirmed my belief and optimism that the group’s investments into its brands and infrastructure have allowed it to develop a scalable multi-brand platform that is well-positioned to disrupt, gain market share and capitalise on what is a truly global opportunity.”

At the end of March, the group acquired online retail store MissPap, offering another way of driving strong results. The completion of the distribution centre in Burnley and relocating PrettyLittleThing’s distribution centre to a larger site in Sheffield will enable the retailer to increase capacity as its customers base continues to grow.

Analysts predict increased customer demand

GlobalData retail analyst Emily Salter said: “The impressive performance of PrettyLittleThing, in particular, is due to its emphasis on trend-led items and newness, while the retailer also acknowledged the success of its ‘shape’ ranges  – Tall, Petite, Shape and Plus. Although many of its competitors offer niche ranges, including ASOS and Missguided, PrettyLittleThing has embraced the diversity and body positivity movement, for example in its popular collaboration with Ashley Graham, which has resonated well with its customers.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

“For the acquisition to be successful, MissPap needs to offer a unique proposition with clear points of differentiation due to the highly competitive nature of the young fashion market. As the Boohoo group continues to grow apace, operational improvements to cope with increased customer demand are vital to long-term success.”