Download full report with analyst certification and important disclosures
Sep 22 2021, 06:55 IST/BST
We forecast 20/23 revenue CAGR of c.+32% for In The Style (ITS) and expect the genuinely differentiated and influencer-led business model, which plays so well to the thematics of inclusivity and empowerment, to continue to take market share. In FY21A, revenue was £44.7m, +132% growth, with Q1 22 delivering c.+44% revenue growth. Execution remains the core challenge. We initiate with an ‘Outperform’ rating and a price target of 255p.