Finery London reports £5 million in revenue in first year
One year after its launch, up-and-coming womenswear e-tailer Finery revealed it has generated £5 million in revenue. The company, launched by former Topshop fashion director Caren Downie, former Asos buyer Nickyl Raithatha and Luca Marini, said it attracted over 3 million visitors in the period.
Selling a curated selection of own-label designs, Finery has managed to set itself apart from competitors to reach a 100,000-strong customer base. According to a statement, it exceeded the targets for its first year of trading.
Nickyl Raithatha, CEO and co-founder, said: "We couldn't be happier with how this year has unfolded. Our objective from the outset was to retain full autonomy of our product, and respond to a very specific demand - for considered, carefully crafted collections at an accessible price point. The calibre of our team, and our belief in this business model, meant that our first-year targets were high and we're thrilled to have surpassed them.”
The brand, backed by Rocket Internet, has also unveiled plans to launch a number of concessions in John Lewis stores, after testing a pop-up format at John Lewis in Birmingham.
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