Sosandar signs agreement with Metrocentre for its third UK store
Sosandar has announced that it has signed a lease agreement with Gateshead’s Metrocentre for its third UK physical store.
The opening in October will follow the launch of the womenswear retailer’s first two shops in Chelmsford and Marlow in September.
The new store will sit in the heart of Metrocentre’s Platinum Mall, which is home to higher-end and designer brands such as Jo Malone, Harrods’ H Beauty, and Hobbs.
Ali Hall and Julie Lavington, co-chief executives of Sosandar, said: “We are pleased to announce the third location for our Sosandar stores.
“We have a strict criteria of opening stores in top tier, thriving locations where Sosandar customers over-index, and Metrocentre ticks all these boxes.
“Metrocentre has a reputation for hosting a versatile range of fashion retailers and we look forward to the official opening of our store in the coming months.”
Last month Sosandar announced that it had performed well in the year to 31 March as it focused on margin, profitability and cash generation. Revenue increased by 9% to £46.3 million while gross margin improved to 57.6% from 56.2% in the previous year.
Fashion retailer Mango will also be joining the line-up at Metrocentre later this year with the opening a 6,233 square foot shop.
Ben Cox, director at Sovereign Centros from CBRE, asset managers of Metrocentre, said: “Sosandar’s arrival at Metrocentre for one of their first physical stores, and first in the region, is fantastic news and reflective of the destination’s dominance in the North East and strength in the UK as a whole.
“We are dedicated to delivering highly sought-after brands that will appeal to our loyal customer base. Sosandar is just that, and a natural fit within Platinum Mall, and we look forward to seeing their store open in the autumn.”
