Answear - 100% Digital
Global e-Commerce growth gathered greater momentum in 2020 with brick-and-mortar stores put on lockdown as a way to help contain the coronavirus pandemic. Propelled by tailwinds, Answear.com S.A. (“Answear,” the “Company”) is committed to building its presence in the CEE region as as a multi-brand e-Commerce platform. Between 2014 and 2019, Answer increased its sales ten-fold to PLN 311 million (58.6% CAGR), and in the next three years revenue is expected to double. Answear is able to maintain its steep growth trajectory by expanding its presence in the fast-growing CEE market, broadening the digital mix of products and brands, and investing in logistics and technology. The Company has enough working capital to further invest in sales growth, and it plans to channel part of the funds raised from the Initial Public Offering into growing brand awareness in its seven markets as a way of boosting sales and increasing conversion rates in the future. In the 2017-2019 period, With a steady rise in sales, Answear was able to bring down sales costs in recent years, and as a result in 2019 its EBITDA margin increased by 4.6pp to 3.1%, and in the year to 30 September 2020 it doubled to 6.6%. Answear has the capacity to scale up further in existing and target markets. According to our estimates, by 2024 the Company will achieve EBITDA of PLN 64m after projected 2020-2024 CAGR of 23.5%. An investment in Answear is a play on a sustained positive momentum in the CEE’s fast-growing e-Commerce industry.
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