Pureplay retailer Adore Beauty reports solid third-quarter results
Pureplay online beauty brand Adore Beauty registered a strong performance in the third quarter, increasing revenue and its customer base.
Based on unaudited accounts for the three months to March 31, the brand’s revenue rose 9 per cent to $42.7 million.
Its active customer base grew by 7 per cent to 880,000 with customer retention remaining strong at 47 per cent.
The company’s mobile app accounted for 10 per cent of its revenue.
Adore Beauty CEO Tennealle O’Shannessy said the strong quarterly performance of the business in a reopening environment was pleasing.
“We are sustainably investing in the business by scaling initiatives which lay the foundation for long-term growth and further strengthen our point of difference.”
In order to grow the business in an $11 billion market, the company has launched its fourth podcast dubbed ‘Makeup School’ in the third quarter along with Beauty IQ, Skincare School and Bite-sized Beauty podcasts. To increase brand awareness, partnerships with Temple & Webster and 7-Eleven have also yielded fruitful results.