Sosandar eyes target locations ahead of bricks-and-mortar debut
Sosandar has identified target locations ahead of its planned bricks-and-mortar launch early in the 2025 financial year.
The online fashion retailer said it had made “substantial progress” towards opening its own stores.
In October, Completely Retail News reported that Sosandar had set out an initial target of 20 standalone, physical stores.
Earlier this year, the retailer made an initial foray into physical retail, having reached an agreement to sell a curated collection of its products through selected Sainsbury’s supermarkets. Sosandar said that a wide range of its products were selling well in all nine stores.
This comes as the retailer releases its half year results for the six months ending 30 September, a period during which it saw a net revenue increase of 6% to £22.2m. However, Sosandar saw a loss before tax of £1.3m, compared to a £0.1m profit during the same period last year.
In the current period, Sosandar said it had seen strong performance on its own website and has been one of the top selling brands across all third-party partners including Next and M&S.
Ali Hall and Julie Lavington, co-CEOs of Sosandar, said: “Looking ahead, we believe that the future is very bright as we take the Sosandar brand to more customers across the UK and worldwide and move further towards reaching our strategic goal of delivering £100m+ revenues and a pre-tax profit margin of at least 10% in the medium term.”