Former Hobbs boss Nick Samuel has joined ethical e-tailer Adili as non-executive chairman, as the company reported a loss of £1.58 million during its first full year as a listed company.
Samuel succeeds chairman Alan Howarth, who will remain on the board as senior non-executive director.
During its first year as a quoted company, the group posted a loss of £1.59m while sales came in at £354,000.
The company added that revenues for the first four months of the current financial year have grown by over 100% compared to the same period last year. This is anticipated to accelerate in the key trading period before Christmas and will be driven by the increase in the product range.
Howarth said: "The business has made tremendous progress since the inception of trading in September 2006 and the company's admission to trading on AIM, in December last year, marked a significant step in its development.
Over the year to 30 April 2008 Adili achieved strong revenue growth and, with the funds raised from the placing at flotation, has invested in key areas which will drive future growth. While the business is still young, having been trading for only 24 months, the potential for it to establish itself as 'the place' to shop online for ethical fashion and other related lifestyle products remains substantial.
We are putting in place a strong platform for growth and are building increasing consumer awareness of the Adili brand as a leading name in our market."