Oh Polly reports strong year-on-year growth
Online fashion retailer Oh Polly brought in record revenues of £15.6 million in 2018 after benefiting from strong demand for its bodycon range of clothing.
Founded by Mike Branney and Claire Henderson in 2015, the business is now on track to achieve more than £21 million in turnover in the current financial year. In addition, EBITDA is expected to rise to over £3 million from a £1.47 miillion in the previous year.
After doubling its number of UK employees in 2018, Oh Polly is planning to increase its headcount to in excess of 140 staff at its Glasgow and Liverpool offices by the end of 2019.
It is also looking to grow its US revenues over the next 12 to 15 months as it continues to invest in its production facilities, new staff and digital infrastructure in the country.
Claire Henderson, chief executive of Oh Polly, said: “Oh Polly has gone from strength to strength over the past year, growing our market share both in the UK and overseas. With around 20% of our revenue now coming from the US, we’ve got a huge opportunity to expand our sales within this lucrative market. With that success will come new jobs and investment, both within our UK operations and throughout our supply chain.”
With an Instagram-focused sales strategy, the business has amassed nearly two million followers on the platform and continues to grow its follower base by an average of 80,000 users per month.
Henderson added: “The strength of our business is based on the quality of our product. We remain wholly focused on making beautiful clothes, designed by girls, for girls. Our loyal community of repeat customers is testament to the quality, creativity and relevance of our clothing lines.”
