Following a strong FY21, Adore Beauty has hit the grownd running with revenue growth of 25 per cent throughout the first quarter of FY22.
Off the back of a continuing shift online, revenue hit $63.8 million while the beauty and lifestyle marketplace’s active customers grew 24 per cent to approximately 874,000.
Chief executive Tennealle O’Shannessy said the influx of new and returning customers was providing a stable foundation for the business’ growth over the next year, with returning customers becoming more valuable each year they spend on the platform.
“We continue to leverage our content strategy to drive brand awareness and discovery, and we are reinvesting in the business to accelerate our growth trajectory within a large and growing $11 billion market,” O’Shannessy said.
“It’s been a pleasing start to Fy22, and we look forward to continuing to execute on the exciting initiatives that will see Adore cement our online market leadership in the beauty category.”
The business launched its loyalty program earlier this year, Adore Society, which also grew throughout the first quarter alongside its native mobile app, and range, and its efforts in the podcasting space continued to pick up steam: Adore’s Beauty IQ podcast passed three million downloads, while its new Bite-Sized Beauty podcast was launched.
“[Our] passionate and dedicated team has made excellent progress on the execution of our growth strategy, further building on our market leadership and strengthening our competitive advantages,” O’Shannessy said in the beginning of the financial year.
“[And] our continued strong returning customer rates and growth in new customers provide strong momentum to drive continued growth in FY22 and beyond.”