Adore Beauty posts growth despite challenging market conditions
Online beauty retailer Adore Beauty has reported revenue of $47.5 million for the first quarter ended September 30, up 4.7 per cent year over year.
The increase was supported by growth in active customers, successful loyalty and promotional activity, and a record 497,000 returning customers, the company said.
Tamalin Morton, CEO of Adore Beauty, described it as a “solid start” to FY24 although trading conditions remain challenging.
“Encouragingly, active customer numbers have now returned to growth, and we continue to see positive momentum with a comprehensive offering that provides real value-added benefits.”
Despite ongoing cost of living pressures and weaker consumer sentiment, the company said it remains on track to achieve an EBITDA margin of 2-4 per cent for the full year.
Launched in 2000, Adore Beauty now partners with a diverse portfolio of more than 270 brands and over 12,000 products.
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