Causeway Capital successfully executed its first partial exit from its private equity fund through the IPO of In The Style Group plc, a fast-growing UK e-commerce fashion brand.

Information on the Target

In The Style Group plc (ticker: ITS) is a rapidly expanding e-commerce fashion retailer focused on women aged 16 to 35. The company has successfully established an innovative influencer collaboration model, which enhances customer engagement and drives sales in a competitive online marketplace. Its mission embraces female empowerment, body confidence, and sustainability, making it a relevant player in today's socially-conscious fashion industry.

In The Style received £2.5 million in growth capital from Causeway Capital in 2018, acquiring approximately 50% of the company. This funding was pivotal in scaling its operations, developing technology and social media strategies, and refining its brand message. Over the past three years, In The Style has achieved remarkable growth, with sales tripling and the company turning profitable.

Industry Overview in the UK

The UK e-commerce fashion sector has witnessed exponential growth, substantially accelerated by the proliferation of online shopping and an increasing consumer preference for digital engagement. The demand for fast-fashion solutions