Sosandar swings to profit
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 £1.6 million compared to a loss of £600,00 in the prior year.
Revenue was up 44% to £42.5 million in the period after the company 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.
Sosandar said its performance with third party retailers such as John Lewis, M&S, Next, Very and JD Williams continues to go from strength to strength and was boosted by the addition of Sainsbury’s in its fourth quarter.
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.
“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.”
