Fashion retailer In The Style is expected to generate almost one million profit in the 12 months leading up to the end of March 2024. DANIEL MUNOZ/Reuters

The CEO of In The Style, an online fashion retailer that generated £57.3 million in revenue in the 12 months to the end of March 2022, Adam Frisby, has stepped down.

Frisby founded the company 10 years ago in his bedroom, at just 25 years old, after he earned a small profit from re-selling dresses that he had obtained online.

After following in the footsteps of fast-fashion rivals Pretty Little Thing and Boohoo, Frisby announced that the online retailer has now "turned a corner".

Revealing his stepping down, the In The Style founder said that the business had been sold to Baaj Capital earlier this year, a private equity firm.

Frisby went on to note that Executive Ben Armstrong, who, according to the former CEO, is "such a fantastic guy", will be replacing him as Managing Director of the company.

Despite losing £5 million in profits last year, the online retailer, which has earned a sum of more than £100 million, is expected to generate almost one million profit in the 12 months leading up to the end of March 2024.

Frisby took to his social media Instagram page, to update his followers on his recent decision that will allow him to look forward to the possibility of starting a family with fiancé Jamie Corbett.

"Following months of reflection, I have made the decision to step down as CEO," he wrote.

"I started in the style just over 10 years ago it was a time in my life where I felt a little bit lost and I didn't know what I wanted to do. I could have never imagined what the next 10 years could bring," the former brand leader said in a post on Instagram.

After his emotional announcement, Frisby told reporters that his career change was "bittersweet".

"I've got lots of different emotions going on. I wrote a caption, shed a few tears - it's been a huge part of my life," he explained.

In 2019, Frisby appeared in a BBC documentary series that focused on fast fashion and the behind-the-scenes of In The Style.

The BBC show was dubbed 'Breaking Fashion' and followed the former CEO and his team through company events, new launches and celebrity collaborations.

The brand's partners included TV personalities Charlotte Crosby, Stacey Solomon, Jac Jossa and Dani Dyer.

The brand was later slammed for taking pride in its extremely fast-fashion approach.

Defending his company, which was started with a £1,000 redundancy payment, Frisby said: "We're not saying buy it once and throw it away, we're saying buy it once and make it last."

In response to the criticisms, In The Style has since claimed that it is "committed to become a more sustainable brand" and a business that is "kind to our planet".

Throughout the docuseries, while speaking of his love for his brand, Frisby also expressed how business pressures have "consumed" his time and affected his mental health and well-being.

Captioning the post, the former CEO wrote: "The stress and pressure that comes with running a business is at times unimaginable, it's been no secret that the last couple of years have taken a personal toll on me and the thing I've learnt above all else from this journey is to be more kind to yourself, prioritise your emotional wellbeing and be more present in the lives of people you love."

During his time as company leader, Frisby made sure that In The Style donated more than £3 million to charities across the UK.

While he will no longer act as the CEO of the online fashion retailer, Frisby noted that he will remain a shareholder and will "continue to support the business in many ways".