Like-for-like sales at young fashion womenswear business Little Mistress Group have soared 26.4% year on year for the three months to March 2018, “swerving” the broader downturn in retail.
The group’s three brands comprise its namesake label, Girls on Film and Paper Dolls. During the first quarter, its website recorded year-on-year revenue growth of 131.5% and gross profit margin was up four percentage points to 64%.
Littlemistress.com’s sales conversion rate grew by 0.4%, with transactions up 121%. Its traffic leapt by 63%.
CEO and founder Mark Ashton said the brands have been “working with 36% less stock”, after adopting a strategy to buy closer to season. The strategy has enabled the brands to “design, produce and deliver small quantities in three weeks”.
Ashton added that all the brands have seen growth across their wholesale customer base. He also highlighted the performance of its private label operations, after creating exclusive brands for House of Fraser, Debenhams, Asos and Arcadia.
He said: “Luckily, we have swerved the retail downturn and our USP and approach across all brands has really performed.
“We have always believed that having your own brand and pricing architecture is the way forward. The end user is obsessed with finding the ‘best deal’ and constantly compares prices, fastest delivery times, who offers her the best loyalty points [or] credit.
“Therefore, driving your own brand, or sub-brand within, gives the retailer a massive edge when it can only be sold by them, again, tapping into our resources and experience, being brand-builders we help them achieve this.”