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Sosandar performance exceeds expectations of management

Lauretta Roberts
29 March 2018

Sosandar, the newly listed online fashion brand, has achieved sales of more than £861,000 in the nine months to December 2017 with a gross profit of £408,883, a performance which its management said had exceed expectations.

At EBITDA level the fledging business, whose website was launched in September 2016, posted a loss of £2.024m and an operating loss of £2.1m. During the nine-month period the business took more than 19,000 orders with an average order value of £96.25 while its website attracted close to 1m hits.

Sosandar gained an AIM listing in November and an injection of capital when AIM-listed cash shell Orogen Plc carried out a reverse takeover of the business. Co-founders Ali Hall and Julie Lavington, who previously worked in fashion publishing as editor and publishing director of Look magazine, said the performance had exceeded their expectations and the cash injection had enabled the business to broaden its range.

"We are delighted with the progress being made within the business, which continues to exceed management expectations. Awareness of Sosandar is growing ever stronger and the coverage and recognition that our products receive is promising for a brand so early in its lifecycle.

"The fundraising in November has enabled us to increase our product range and we are already seeing good traction in our higher price point categories, including leather, outerwear and footwear. Our target market is affluent and has been long underserved and we continue to look forward to the future with great confidence," the pair said in a statement.

Sosandar aims to offer trend-led, accessibly priced fashion for women who have grown out of the young fashion etailers, such as ASOS. Since its launch it has gained a number of celebrity and influencer fans, including TV personalities Holly Willoughby and Denise van Outen.

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