Strong growth for ASX listed tech start-up AHAlife

Strong growth for ASX listed tech start-up AHAlife

Online luxury marketplace almost doubled users and grown sales by 37 per cent in first quarter as listed business

Tech start-up, AHAlife Holdings Limited (ASX: AHL), an online marketplace and technology platform for luxury items, has experienced strong growth since its ASX listing in July 2015.

AHAlife said it acquired more users on its marketplace in the last eight months than it did entirely in its first three years of operations.

In Q1, users grew by 96 per cent 397,000, brands grew by 37 per cent (2863 by the end of September) and booked sales were up 75 per cent to $1.57m.

The company claimed the strong growth is also attributed to successful customer acquisition strategies using data science, customer retention programs and new e-marketing.

The increased users has contributed to a 75 per cent growth in booked sales for the quarter compared to the previous quarter, in a period that AHAlife said is typically the quietest seasonal retail quarter in the USA.

AHALife also generated booked revenue of $1.576m in this last quarter comparable to its record Christmas quarter last year ($1.579m).

The strong growth has also allowed for brands to grow rapidly with more than 2,800 brands actively selling online. This is an increase of 35 per cent compared to the previous corresponding period.

The momentum going into the Q2 Christmas period appears positive for AHAlife in what the company said is traditionally the strongest retail quarter.

“We’re excited to deliver a strong first few months as a listed company on both sides of the marketplace. The number and quality of our brands continues to grow rapidly with 20-30 new brands being signed each week,” AHAlife chief executive, Shauna Mei, said.

“In combination with continued customer acquisition, this growth positions the company well for what is traditionally the largest retail trading period for the year,” she added.

Close to 400,000 customers purchase items directly from the AHAlife marketplace that makes up a community of over 2800 handpicked designers and artisans in 45 countries.

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Tags start-upAHAlifeShauna Mei

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