Back
~
2
min read
· Posted on
February 21, 2024

Adore Beauty announces first profits since going public

Gone is the one-night-stand. Adore Beauty's in it for life.

What's the key learning?

  • Adore Beauty went public in 2020, which took their market cap to $615 million
  • Adore just announced their first results since they went public, and revenue exceeded expectations
  • E-commerce companies are evolving from transactional relationships to long-lasting relationships.

Adore Beauty is Australia's #1 beauty e-commerce store, and it's come from humble beginnings. Like started-in-a-Melbourne-garage humble. Since first launching in 2000, they've partnered with major global brands, launched an online editorial called Beauty IQ and a podcast.

After some cray-cray hype - we're talkin' more hype than Kanye's new Donda album - Adore Beauty went public in 2020. The IPO raised a huuuge $270 million, taking their market cap to a whopping $615 million. 

Adore's announced its first results as a public company, and not bhed, good size. AB's revenue exceeded expectations, and they grew their customer-base to over 818,000. Now, they've announced a loyalty program and new private label products to hit the nek level.

 So what's the key learning?

E-commerce companies are evolving their businesses from transactional relationships, to long-lasting relationships. In other words, they're saying bye-bye to one-night-stand, and 'I do' to a marriage. 

Take a look at how Adore reports its numbers. Not only did they see active customers rise 39%, they also saw their returning customers increase by a huge 64%.

And how are they doing it? Well, it's pretty simple actually:

  1. A mobile app, to further embed themselves in the habits of their customer base, and
  2. A loyalty program, to incentives customers to come back again and again. 

Ready to win at money?

Sign up for Flux and join 100,000 members of the Flux family

A button to App StoreGoogle Play store button
Excellent  4.9 out of 5
Star rating