Sosandar reports ‘milestone’ first time full year profits
Women’s fashion retailer Sosandar has reported its first full year of profitability.
In the 12 months to 31 March, the retailer posted a pre-tax profit of £1.6m compared to a loss of £600,000 in the prior year.
Sosander’s tie-ups with third party retailers including John Lewis, M&S, Next, Very, JD Williams and latterly Sainsbury’s, have helped strengthen its order book.
Latest figures show that revenue was up 44% to £42.5m in the period, after the retailer benefited from respective increases of 22% and 8% in its number of orders and average order value. It also grew its number of active customers which rose by 19% to 264,832.
Ali Hall and Julie Lavington, co-chief executives of Sosandar, said: “We are delighted to be reporting a milestone year. Sosandar has grown from a true start-up business just six years ago to a brand which is delivering multi-million-pound revenue and is profitable.
“We are incredibly proud to have Sosandar clothes now being sold in the UK’s biggest retailers, and we have now built the infrastructure to start serving our target customers internationally.
Hall and Lavington plan to continue expanding the business, adding: “We see a number of opportunities for further growth both on our own site and through our third party partners in the coming months and beyond as we continue to move forward with our objective to make Sosandar one of the largest womenswear brands globally.”
Sosandar was founded in 2016 and listed publicly in 2017.