Adore Beauty Group Limited has announced an ambitious three-year strategy to transition from a pureplay online beauty platform to a omni-channel beauty retailer. The plan includes establishlishing a national retail network, targeting more than 25 stores.

The company aims to expand its margin through significant growth of its owned brands via multiple channels and investment in a retail media capability. Adore Beauty also plans to accelerate operational efficiencies through data and AI-driven operating structures. The company is targeting a total group revenue of more than $260 million, 30% up on on FY24.

Adore Beauty's strategy also includes plans for its owned brands to represent 8-10% of total product revenue. The company is targeting an EBITDA margin of above 8% and an EBIT margin of above 5%.

In terms of customer acquisition, Adore Beauty aims to have more than 1.25 million annual active customers.

Adore Beauty will also accelerate the growth of its owned brand portfolio through retail and direct-to-consumer channels, along with wholesale partnerships in new geographic regions. The company's presence will be expanded beyond its New South Wales origins to 10 stores, from its current three stores, in premium metro and regional areas over the next three years.

Adore Beauty will continue to leverage its online beauty expertise, content creation capability and authenticity with a focus on enhancing existing customer engagement, frequency and retention via mobile app adoption, subscriptions, loyalty program and advanced data and AI capabilities.

"I joined Adore Beauty with a clear vision to launch the Company into its next phase of growth," said Sacha Laing, CEO of Adore Beauty. "Adore Beauty has strong foundations poised for material growth. Taking the group from a pureplay online beauty platform into an omni-channel beauty authority is a natural evolution for the Group. Our clear three-year strategic plan will leverage multiple growth initiatives to deliver a material step change in customer acquisition, revenue growth and profitability, and importantly, strong value creation for our shareholders. This plan is just the beginning with significant opportunity to continue to capture increasing share of the $13.9bn beauty industry over the long term."

Adore Beauty was launched in 2000 as Australia’s first beauty-focused e-commerce website.