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Shares slump nearly 20% at fashion brand promoted by Stacey Solomon and Gemma Atkinson

Business Live logo Business Live 05/08/2022 Jon Robinson
In The Style launched its first collaboration with Stacey Solomon in April 2021 © In The Style In The Style launched its first collaboration with Stacey Solomon in April 2021

Shares in a fashion brand promoted by influencers such as Stacey Solomon and Gemma Atkinson have slumped by almost 20%.

In The Style has suffered a 19.4% drop as of 1pm today (Friday, August 5) with its shares now trading at 28.15p each.

Its shares had been trading at 74.5p the day before the company revealed its full-year results last month.

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Those results revealed the business had posted a pre-tax loss of £1.5m for the 12 months to the end of March 2022, compared to a profit of £125,000 in the prior year.

However, its revenue jumped by 28% from £33.7m to £57.3m over the same period. Its shares fell by more than 34% following the publication of the figures. Direct to consumer revenue increased by 23% to £44.7m while wholesale revenue grew 52% to £12.6m.

Following the publication of the accounts, In The Style's shares dropped to 50p.

As well as Stacey Solomon and Gemma Atkinson, In The Style also uses influencers such as Jac Jossa, Lorna Luxe and Perrie Sian.

Shares in the brand, which floated on AIM in March 2021, hit a high point towards the end of April last year when they reached 249p each. However, they have been gradually falling since September last year.

In The Style has been contacted for comment.

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