News blog
Adili
- BY: Andrew Hore |
- POSTED: 17/02/2008 |
- COMMENTS: Add yours
Online ethical clothing retailer Adili had a good Christmas and it says it has systems in place that will enable it to cope with annual sales of £10m.
Edison Investment Research believes that Adili could breakeven in 2009-10 at well under £10m of sales. It forecasts a loss of £1m on revenues of £400,000 in the year to April 2008, and a loss of £700,000 on turnover of £2m the following year.
Adili is an online retailer of ethical clothing, linen and accessories. This can encompass organic, fair trade or other criteria. It started trading in September 2006. The current financial year is the first full period of trading.
The company’s warehouse in Dorset is a former dairy shed. It should have enough capacity for the next two years and there is scope to increase its capacity.
Average orders are worth £75. The core customer base is younger and wealthier than the average. Adili wants its clothing to be fashionable but also value for money. It offers 65 brands and is developing own label products.
Adili has an experienced management team as well as experienced retailers as shareholders. Quentin Griffiths was involved in the early development of ASOS and EBTM. Chief executive Adam Smith has a retail background but not in the clothing sector. That is provided by Sim Scavazza, who used to be with Miss Selfridge and French Connection.
Smith says that starting up now would be more difficult and Adili’s early entrance to the market gives it a better chance of success. Adili raised £1.5m gross at 17.5p a share when it joined Aim on 12 December 2007.
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