Me+Em Lifts Revenue 29% to £190M, Buoyed by U.S. Machine

Me+Em grew revenue 29 percent to 190 million pounds in the 12 months to Jan. 31, 2026, and EBITDA rose 53 percent to 37 million pounds, according to the latest company accounts. The British womenswear brand also disclosed that private equity backer Highland Europe, which first invested in 2022, has increased its stake — a capital move, not a new round, and one the company says underscores confidence in its growth trajectory.

The geographic engine is unambiguous. U.S. revenue rose 39 percent to 65 million pounds, driven by what the company calls "significant" double-digit online growth and three new store openings, including Greenwich, Conn., and North Beverly Drive in Beverly Hills, Calif. Me+Em now operates eight U.S. stores.

What does the U.S. expansion actually prove?

All American stores turned profitable in their first year of trading, the company said, and delivered significant like-for-like growth in year two. Over three years, the active U.S. customer base has nearly quadrupled, with VIP customers growing faster still.

For sourcing and real-estate watchers, the pipeline is the more useful signal. Further U.S. stores are planned in Houston and Los Angeles, with additional European retail on the schedule. The first permanent Paris store is set for the second half of 2027 — a long lead time that suggests measured, lease-by-lease expansion rather than a blitz.

Category depth and repeat rates

The margin picture holds up alongside the top line:

• Gross profit up 28 percent to 105 million pounds
• Operating profit up 30 percent to 26 million pounds
• Revenue and EBITDA both more than tripled over four years

Category expansion centred on trousers, accessories and occasion wear. Repeat behaviour is the standout metric for a direct-to-consumer model: 46 percent of all customers placed a second order, which the company describes as industry-leading. Almost half the active customer base bought trousers, and across the full year Me+Em sold a pair of trousers every minute — roughly 525,600 pairs, for those who prefer the annual frame to the marketing one.

Founder and CEO Clare Hornby said the brand "has always been passionate about democratizing luxury for busy women of all ages," adding: "Strong revenue growth, and accelerating demand for our clothes globally, tells us there is a genuine appetite for our British modern luxury proposition. We see a huge opportunity ahead of us as we move into this next chapter of growth and are delighted with the confidence Highland has shown in the business, and their continued partnership."

Momentum into the current year

Trading has continued into the new fiscal year, and at an accelerating clip in the U.S. Rolling 12-month global revenue is up 24 percent year-on-year to 215 million pounds, while rolling U.S. revenue has risen 48 percent to 84 million pounds — meaning the American business now represents close to 40 percent of group sales on that basis.

What does this change for sourcing teams? A brand tripling EBITDA in four years while opening stores on both sides of the Atlantic will be lifting order volumes in trousers, occasion wear and accessories, and the Houston, Los Angeles and Paris openings imply sustained capacity demand through 2027.

The company attributes the performance to "disciplined focus on international expansion and operational excellence" — a claim the accounts largely support. With Highland adding to its position rather than planning an exit, the immediate question for suppliers is not whether Me+Em grows, but how fast its U.S. and European footprint forces its order book to follow.