Ecommerce revenue growth
- Strong growth across all regions. As we expected, revenue grew 17% in both EMEA and Americas, and 7% in APAC. In APAC we saw a weaker performance in Japan, our largest country in the region due to higher physical retail mix which was significantly impacted by Covid-19. China grew by 46%.
- Direct to Consumer (DTC) mix 43%, down 2%pts driven by:
- Ecommerce revenue up 73%, to 30% mix (up 10%pts).
- Retail impacted by Covid-19 store closures and restrictions, with revenue down 40% and mix at 13%, down 12%pts.
- Gross margin grew 1.2%pts to 60.9%, predominantly due to faster delivery of supply chain efficiencies.
- EBITDA margin grew by 1.6%pts to 29.0%, driven by gross margin performance.
- Continued investment in our brand and business, including increasing our headcount by over 250 people, and opening 18 new stores and a third-party distribution centre (DC) in New Jersey USA.
- Building on the extensive work to date, we have announced the launch of a set of ambitious sustainability targets, including net zero by 2030 and, without compromising quality, all footwear made from sustainable materials by 2040.