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Adore Beauty sales dip as customers seek ‘value’ online

Pureplay online retailer Adore Beauty’s sales declined for the full year and the business says value remains a “key driver” for customers.

In its results for the year to June 30, revenue fell 9.6 per cent to $180.6 million with EBITDA of $600,000 reflecting lower operating leverage, cost inflation and reinvestment in key initiatives.

Active customers fell 8 per cent to 801,000 while returning customers increased by 4 per cent to 490,000 and contributed to 76 per cent of all revenue. The company also tripled its private label SKUs to 38 and plans to expand further.

Adore Beauty CEO, Tamalin Morton, said the business “returned to growth” in the second half despite challenging trading conditions.

“We have maintained sales momentum into FY24, up 5.9 per cent on the same period last year, and our proposition continues to resonate with customers.

“We enter the new financial year with a refined strategy, focus on customer centricity, increased brand awareness, and operational optimisation,” she said.

“New strategic initiatives already underway provide short and long-term growth levers, and include leveraging new data insights to enhance our product offering and loyalty program, real-life activations and audience expansion initiatives.”

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