Adore Beauty smashed two ceilings last year.
The leading beauty e-tailer raised AUD$269.5 million in the nation’s largest IPO (initial public offering) of 2020 and founder Kate Morris became the first woman to lead an Australian IPO launch.
The company went public on October 23rd with the ASX ticker code Adore Beauty Group Limited.
The white hot float of the year has paid off. Over the six months to December 31st, Adore Beauty enjoyed a record second half to reach revenues of AUD$96.2 million – an 85 per cent increase over the same period a year earlier.
Adore Beauty’s first national advertising campaign springboarded a 52 per cent brand awareness surge and the company’s branded podcast downloads increased 84 per cent to 930,000 over the second half.
The company recently announced on Instagram its podcast had hit a total of two million downloads.
Earnings were also up 188 per cent and gross profit margin grew 1.4 percentage points to 32.5 per cent in the last six months of 2020.
The boom results exceeded Adore Beauty’s prospectus forecast of AUD$89 million and the company expects the good times to continue as more consumers shop online, especially for premium beauty products.