Sosandar reports another year of growth with £9m revenue
Online women's fashion brand Sosandar has reported another year of growth. For the 12 months to 31 March 2020, the company brought in revenue of £9m, compared to £4.44m the previous year.
Adjusted EBITDA losses widened from £3.41m to £7.3m as the group made investments in their team, supply chain and global marketing.
Launched in September 2016, the Sosandar business model is built around using trend-led, exclusive designs produced in-house and then manufactured using a variety of global suppliers.
Sosandar caters for a growing market of fashion-conscious women, while utilising an outsourced logistics provider that can support its planned growth over the coming years.
In a joint statement, Co-Chief Executives Ali Hall and Julie Lavington said: "We're delighted to report another year of growth, and one in which we achieved a significant shift in terms of customer base and infrastructure, providing stronger foundations for continued future growth.
"This proved especially valuable during lockdown where having a larger base of customers, combined with an enhanced product offering, allowed us to navigate difficult trading conditions, growing our customer base further and increasing their order frequency whilst preserving cash."
"The resilient performance achieved throughout Q1 has continued into Q2 of our current financial year."
"Our increasing confidence underpins our decision to begin increasing marketing spend with careful, controlled investment into customer acquisition from September to November, subject to any further impact of COVID-19.
"We remain cautiously optimistic about the coming months and more excited than ever about the longer-term prospects for Sosandar."