Me & Em reports a significant rise in revenue, driven by expansion in the US.
- The company’s revenue increased by 46% to £119.5m by January 2024.
- US sales experienced a 106% growth, contributing £29.4m to the revenue.
- Key products such as dresses, footwear, and accessories led the sales surge.
- The brand opened its flagship store in London’s Marylebone Village.
Me & Em has reported a notable increase in its revenue, with a growth of 46% to reach £119.5 million for the year ending January 2024. This growth is largely attributed to the company’s strategic expansion into the US market, where sales saw a remarkable 106% increase, amounting to £29.4 million. These figures show that the US market now makes up a substantial portion of the company’s total revenue.
The company highlighted that their product categories, particularly dresses, have been significant in driving growth. Additionally, the expanded range of footwear and accessories has supported this upward trend in sales. This diversified product line has allowed Me & Em to cater to a broader audience and meet various customer needs.
Me & Em’s operating profit also saw a rise of 44%, reaching £16.2 million, while their EBITDA increased by 31% to £21.1 million. These financial results underscore the company’s successful adaptation to changing market conditions and consumer expectations, allowing for steady growth amidst evolving challenges.
Alongside financial growth, Me & Em has expanded its physical presence. New stores were opened at London’s Battersea Power Station and Edinburgh, marking the brand’s first location outside of London. Furthermore, they unveiled their eighth UK store in Marylebone Village, signifying their first official flagship shop. This expansion reflects the brand’s commitment to reaching more customers and solidifying its market presence.
In a statement, the company attributed their positive performance to strategic decision-making and continuous market expansion. They emphasised that the customer remains central to all decisions, enabling them to navigate the market effectively and understand their target audience’s evolving expectations.
Me & Em’s strategic focus and market expansion have firmly established its growth trajectory.
