Me+Em has strong year driven by explosive international growth

Premium womenswear brand Me+Em has filed its accounts for the year to January and they show strong progress at the business.

It’s reported healthy growth in both revenue and profits despite the backdrop of market uncertainty and overall cautious consumer spending across the premium and luxury fashion sectors.

Group revenue increased by 24% to £147.9 million, driven by the success of its international business where revenues increased 50%. Gross profit was up 24% to £82.3 million with an improvement in margin to 56% from 55%.

EBITDA rose 15% to reach £24.2 million although the EBITDA margin dropped to 17% from 18% excluding exceptional costs. 

Operating profit rose 25% to £20.2 million and net profit for the year was £15.35 million, up from £11.88 million a year earlier.

The company referred to its sales growth globally as “robust” and that’s clearly justified, particularly for the US where it saw its strongest performance as revenues there increased 61% to £47.3 million, accounting for 32% of its total sales. The period marked the successful launch of its first international physical store (on Madison Avenue in New York) and that was followed by additional US locations, including New York Soho and in Dallas, Texas.

As for its UK market, the company relocated its Marylebone store in London to a larger flagship location and also refurbished and expanded its original Kings Road Store to offer a larger space and improved personal styling services.

Overall, the company said global new customer acquisition was up 12% with US online new customer acquisition jumping 32% as it invested heavily in marketing services with an emphasis on digital.

Revenue growth across all product categories was supported by an expanded product range and increased choice, as well as the continued expansion of the footwear and accessories collections and the launch of its first swimwear range during 2024.