ISawItFirst reports rise in FY sales, but remains in the red

UK fast fashion e-tailer ISawItFirst has reported a 70 percent increase in turnover in the year to October 3 2021 thanks to strong growth in its home market, but it remained loss-making.

The company’s turnover for the year came in at 74.78 million pounds compared to the 57.71 million pounds it reported a year earlier.

Breaking it down by geography, turnover in its home UK market was up 36 percent to 69.36 million pounds, while turnover in Europe dropped 22 percent to 4.5 million pounds, and turnover for the rest of the world was down 11 percent to 915,000 pounds.

Despite the overall increase in turnover, ISawItFirst’s loss before tax widened to 7.76 million pounds, up from a loss of 7.54 million pounds the previous year.

ISawItFirst was founded in 2017 by Jalal Kamani, the brother of Boohoo co-founder Mahmud Kamani. The brand's target customers are young women under the age of 30.