Sosandar reveals 'record' Q3 sales
Sosandar has reported a 30% increase in revenue to £11.6 million for the three months ending 31 December 2022, with "strong" revenue growth seen across all sales channels.
The strong performance is a testament to its "agility, underpinned by a unique quality product offering, highly effective marketing strategy and increasing brand awareness" across its target market, according to the company.
Across the period, all product categories experienced growth, with knitwear, formal tailoring, coats and partywear performing "exceptionally well" throughout the season.
Average order value increased 11% to £106.37, due to customers buying into higher priced items and categories such as outerwear, tailoring and occasionwear.
Gross margin was 56.8%, whilst net cash totalled £4.6 million as at 31 December 2022.
Ali Hall and Julie Lavington, Co-CEO's of Sosandar, said: “We are pleased to be reporting another record trading performance for Sosandar and a fifth consecutive quarter of profitability for the group. Our agile business model, expanded product offering and ever-increasing brand awareness has allowed us to deliver what our customers want and to continue dressing women to feel sexy and chic.
"Whilst the macro-economic environment remains challenging, and we remain highly vigilant, we continue to demonstrate that our differentiated model is capable of achieving sustained profitable growth. As a management team, we have complete confidence in our brand, unique product, amazing colleagues and our ability to continue executing on our strategy.
"The strength of our brand and product range continues to be recognised by third party retailers and as a result we are really excited by a number of new opportunities for growth being presented to us across various sales channels and territories.”