Fast fashion retailer In the Style hands back furlough cash after its sales more than double
In The Style has handed back Government support gained under the furlough scheme after its sales more than doubled.
Reporting the first results since its float, the online fast fashion seller said sales for the year to March 31 would be £44.5million – a 130 per cent increase on the year before.
The firm was founded in 2013 by Adam Frisby, 33, who left his job at Burger King to start the business with £1,000.
Soaring sales: In The Style was founded in 2013 by Adam Frisby, 33, (pictured centre) who left his job at Burger King to start the business with £1,000
The Manchester-based business designs fashion collections with reality TV stars such as Love Island’s Dani Dyer, and offers special discounts to bring people to its app.
The company hailed the ‘phenomenal’ early success of a tie-up with Stacey Solomon, 31, the former X Factor star, who has recently signed deals with Primark and Amazon.
Around 80 per cent of the I’m A Celebrity winner’s range sold out within a day after launching on Tuesday.
Frisby said: ‘We have nearly sold out of the whole collection.’
Bosses have also signed a partnership with Asda, which will put In The Style ranges into 100 stores.