Sosandar trading ahead of expectations in first update since float
Sosandar, the fledging women's etailer which floated in AIM last month, has said it traded ahead of expectations in the period from the end of August to the end of November.
In its first trading update since it entered London's junior stock market on 2 November following a reverse takeover by cash shell Orogen, the business said the funds raised had enabled it "to acquire larger and wider ranges of product and has also enabled the business to accelerate its media and marketing activities".
Co-founders Ali Hall and Julie Lavington said: “We are delighted with the progress we have made to date and the additional funds we have recently raised has allowed us to drive significant momentum into the business. Our depth of product is expanding, we are now able to buy larger lines of product, thus reducing lead times and increasing margin.”
The pair who both hail from magazine publishing (they are the former editor and publishing director of LOOK magazine) established Sosandar in September 2016 as a trend-led fashion offer for women who had moved on from young fast-fashion brands, such as ASOS.
Hall and Lavington have used their expertise to gain significant media coverage and celebrity and influencer following for their designs, which are produced exclusively by an in-house team.