// Sosandar reveals that its investments have paid off ahead of AGM
// The online retailer has also started to use out-of-home digital ads for the first time
Sosandar has revealed that its increased investment in marketing and product “is producing very good results”.
The online womenswear retailer issued the update ahead of its AGM today.
Non-executive chairman Bill Murray said that after the completion of its “oversubscribed” placing in July, it has accelerated its growth by “carefully deploying funds to strengthen” its design capability, widen product range and trial additional marketing channels.
“As expected, we’ve seen these activities result in increased customer acquisition alongside continued growth from our ever-expanding base of loyal existing customers,” Murray said.
He added that while autumn has just begun, “results for the first half of September have been very strong, and midway through September revenue has already exceeded that achieved in September last year”.
The retailer has also started to use out-of-home digital ads for the first time, with Sosandar ads seen alongside station escalators at London underground stations including Euston and Kings Cross St Pancras.
“We expect the contribution to brand recognition and awareness that this creates, together with our TV advertising, to be significant and, over time, we are confident it will further support our work in new customer acquisition and retention,” Murray said.