In The Style partners with Tesco’s F&F to expand physical retail presence through a 22-piece summer collection.
- The collaboration marks a significant step for In The Style, featuring sequin jackets, tailored blazers, and satin maxi dresses.
- Since being acquired by Baaj Capital, In The Style aims to return to profitability, projecting a £1m EBITDA for March 2024.
- Managing Director Ben Armstrong discusses the partnership’s importance and its potential to reach a wider audience.
- Innovation in social media strategies aligns with consumer preferences for interactive experiences beyond transactions.
Last Thursday, In The Style launched a new summer collection in collaboration with Tesco’s F&F, available in 300 stores across the UK. The 22-piece collection includes a range of garments from sequin jackets to satin maxi dresses, catering to diverse consumer sizes from 6 to 22. This collaboration represents a strategic expansion into physical retail, a first under the new ownership that began 16 months ago with Baaj Capital’s acquisition of the company for £1.2 million.
Under the leadership of Managing Director Ben Armstrong, who initially joined as a consultant in August, this move signifies a broader strategic vision aimed at increasing brand accessibility. Armstrong highlights that the partnership with F&F is unlike past ventures, describing it as a more collaborative effort, encompassing products, marketing, content creation, and in-store visuals. This approach contrasts with previous arrangements, such as the one with George, viewing it as more of a joint venture rather than a straightforward wholesale agreement.
In The Style’s strategic shift has been bolstered by a focus on financial health. With a projected return to profitability for the year ending March 2024, achieving an EBITDA of nearly £1m, the company has radically improved from a £5m loss in the previous year. Armstrong attributes these gains to prioritising net contribution margins over mere top-line sales. This change involves careful attention to distribution costs, transactional fees, and marketing expenses, leveraging the expertise of their parent company, Baaj Capital.
The enhancing of physical collection offerings reflects a motivation to reach a wider audience, capitalising on the unique strengths of both brands. The inclusion of this summer collection has sparked interest, particularly given the current season’s challenges, such as unfavourable weather. Yet, the collection’s success is evident in its performance during key occasions, like weddings and races, and the strategic decision to invest in summer knits has paid off.
On the digital front, In The Style continues to evolve its social media strategies, recognising these platforms as modern search engines with significant influence. The brand’s introduction of weekly TikTok Live sessions, featuring personalities like Charlotte Crosby, exemplifies its commitment to creating more interactive and engaging consumer relationships. This shift aligns with the broader trend of consumers seeking experiential interactions rather than straightforward transactions.
In The Style’s innovative approach to both physical and digital retail underscores its readiness for expansive future opportunities under the new ownership.
