Founder of ‘In The Style’ Adam Frisby Announces Departure Amid Revenue Concerns

Adam Frisby, the founder of fast fashion e-tailer In The Style (ITS), has declared his exit from the company. Frisby, who established the company 11 years ago, disclosed his decision through an Instagram post, describing the move as difficult and stating, “I tried my hardest to continue to make things work.”

The cause of Frisby’s departure has not been made public. However, the company has been grappling with declining revenues since its acquisition by Baaj Capital for £1.2 million. In early 2023, during the period of acquisition, ITS was in the midst of a strategic review prompted by a challenging phase, which had led to a decrease in its profit forecasts.

The transaction with UK-based Baaj Capital involved the sale of In The Style Fashion Limited (ITSFL) and allowed Frisby to retain an equity stake in the newly established ITS Holding 2023 Limited, which was created specifically for the deal’s execution. Previously, Frisby had relinquished his role as chief brand officer following a term of service.

In December 2022, Frisby stepped down from his leadership role, commenting that the company had “turned a corner” and returned to profitability. However, for the fiscal year ending March 2023, ITS experienced a 19.8% decline in income compared to the prior year. The company attributed this downturn to “well-documented industry peer performance” and the effects of the UK’s cost-of-living crisis. The current financial year’s performance remains undisclosed.

In his parting statement, Frisby expressed gratitude to the ITS team and its customers for contributing to the brand, which he regards as his “proudest life achievement.” Despite his unresolved feelings about leaving, he stated, “This definitely isn’t the end of me in business, and when the time is right I look forward to taking you all every step of the way with me on the next journey.”