Sosandar revenues surge 122% to record levels

Revenue surged by 122% to £8.5 million at Sosandar during the last three months of 2021 compared to the same period in 2020.
"The strength of our trading, together with the impact of our increased scale, is leading us towards sustainable profitability."
// Sosandar has reported its first EBITDA positive quarter, with revenues increasing 122% to £8.5 million
// Sosandar also confirmed “record trading” with third parties M&S, Next and John Lewis “following significant investment in stock depth and breadth”

Revenue surged by 122% to £8.5 million at women’s fashion retailer Sosandar during the last three months of 2021 compared to the same period in 2020, new figures have revealed.

The record revenues over the festive season can be linked to strong sales of partywear pre-Christmas and an increase in activewear and more casual clothing post-Christmas, along with sustained sales of knitwear, outerwear, dresses, boots, denim and leather.

Sosandar reported net cash of £7.4 million as 31 December 2021 and a gross margin of 55.8%, up from 43.6% in Q3 FY21.


READ MORE:


In a statement to the London Stock Exchange, the retailer added that its first EBITDA-positive quarter demonstrates its “trajectory towards annual profitability”.

Active customers increased by 62% year-on-year to 213,715, with average order frequency up by 12% to 2.23 times per annum and its average order value of £95.18, up 13% from £84.51 in the prior year.

The retailer acknowledged the growth of its product categorises year-on year, with its Autumn/Winter range performing well with its customers. Overall return rates were also reportedly lower than pre-pandemic levels.

Sosandar also confirmed “record trading” with third parties M&S, Next and John Lewis “following significant investment in stock depth and breadth”.

In a joint statement, co-founders and co-CEOs Ali Hall and Julie Lavington said: “We are delighted to report a record quarter for Sosandar, with each month being EBITDA positive. Our expanded product range and effective communication with our customers, in line with our strategy, has been a key driver of the growth we have delivered.

“We continue to trade very well, with our expanded product range and innate agility enabling us to tailor our offering to customer demand. We remain vigilant to the external challenges. However, we have not experienced any material disruption at this time and believe our approach continues to position us well going forward.

“We are more confident than ever that Sosandar is well on the road to becoming the go-to one stop shop for fashion forward women.”

Click here to sign up to Retail Gazette‘s free daily email newsletter

LEAVE A REPLY

Please enter your comment!
Please enter your name here