Takko Fashion closes first quarter with strong sales growth

In the first quarter of the 2022/2023 financial year, the fashion discounter, Takko Fashion, generated net revenue of over 242 million euros. This corresponds to an increase in net revenue of 79 percent compared to the same period of the previous year, which at the time was strongly influenced by pandemic lockdowns in Europe. "The start of the first quarter of 2022/2023 has been challenging due to tense consumer sentiment combined with prolonged cold weather," explains Kurt Rosen, CFO Takko Fashion. "Nevertheless, we were able to almost return to pre-pandemic net revenue levels with a difference of only 4 percentage points compared to first quarter of 2019/2020."

While the strained consumer climate led to a slight decline in the number of visitors to the fashion retailer's stores, the sales per customer in the shops increased. "Our customers are convinced by our fashion range and value for money proposition. This is evidenced by the average increase in the number of items per receipt and the increase in the number of orders in our online shop," adds Tjeerd Jegen, CEO Takko Fashion.

The fashion company's liquidity stood stable at 132 million euros at the end of the first quarter (30 April 2022) following the usual seasonal cycle. This corresponds to an increase of 75 percent compared to the same period last year.

Takko Fashion, furthermore, is increasing its focus on digital customer relationship management: in the first quarter of the financial year, the fashion discounter launched its digital customer loyalty program Takko Friends. After only three months, the customer app reached more than 1 million downloads, exceeding the fashion retailer's expectations. "The use of the Takko Friends program is overwhelming," comments Tjeerd Jegen, "more than 1 million customers downloaded the app to collect points and redeem them for individually chosen vouchers." The Takko Friends app is available for free download for Android and iOS devices in the app store. In addition to exclusive benefits and discounts, the app offers a news section, store finder (including navigation) and the possibility to view receipts digitally.