Gross sales across Kogan in the first month of FY25 were up 2.1 per cent to $63.9 million, a positive swing from its full-year gross sales decline of 4.8 per cent, hitting $809 million.
Kogan manages various revenue streams, including its online retail platform Kogan.com which sells fashion, footwear and accessories among a wider product mix.
The group’s total revenue for July 2024 was also up by 15.6 per cent to $40.3 million, another positive swing from a full-year drop of 6.1 per cent in FY24.
Kogan joins other ASX-listed fashion businesses reporting sales bumps in the first few weeks of FY25, including Super Retail Group and Universal Store Holdings.
Kogan’s gross profit was also up by 23 per cent in July, similar to its full-year FY24 growth result of 23.3 per cent.
Much of Kogan's growth over the last year included a lift in overall platform-based sales contribution, which hit 62 per cent by the end of FY24, up from 57 per cent last year. This excludes Kogan.com’s New Zealand gaming e-commerce subsidiary Mighty Ape.
“FY24 was a milestone year for Kogan.com,” founder and CEO Ruslan Kogan said. “Our business returned to a position of profitability and strength, having navigated through the previous two and a half years of turbulence.
“We got through this by restructuring and improving our operations, focusing on growing the right areas of our business, rapidly growing platform-based sales, and most importantly, investing in our loyal customer base. This has helped put Kogan.com in its strongest position ever.”
In response to ongoing cost-of-living pressures affecting customers, Kogan said the business is doubling down on its commitment to affordability and value.
“This was at the core of our brand when we launched 18 years ago, and we understand the economic challenges our customers are facing,” Kogan said. “Everything we do is aimed at enabling our customers to live their best lives without having to strain their budgets.
“You’ll see this play out in all our investments and launches going forward. Our team’s obsession with delivering remarkable value for our customers has underpinned the growth of Kogan.com into the top performing Australian eCommerce company for nearly two decades.
“These efforts are more crucial than ever, and we’re primed to deliver again for our customers in FY25.”
Kogan also reported a 25 per cent growth in its Kogan First loyalty program, hitting 1.9 million active customers by FY24 end.
Marketing costs were reduced by one per cent with the strategic focus on the group’s two loyalty programs.