Sosandar hails strong revenue growth
Sosandar has reported that its fourth quarter sales climbed by 63% to £3.94 million after it achieved record revenues in March.
As a result, the women’s online fashion retailer now expects revenue to be up 35% to £12.2 million in the year to 31 March with its EBITDA loss reduced by over 60% in the period.
During the year, Sosandar’s number of orders climbed by 29% to 276,000 while repeat orders rose by 40% to 190,000. The retailer also increased its conversion rate to 3.1% from 2.7%.
During the year, Sosandar benefited from strong sales with John Lewis and Next and at the end of March launched with Marks & Spencer as a third-party online retailer.
In a statement, the retailer said: “Moving into Spring and with the loosening of restrictions laid out, Sosandar has seen early signs that customers are preparing their wardrobes for a busy summer. This includes an increase in the sales across all key categories, in particular colourful dresses, tops and denim.
“Looking to the year ahead, against a backdrop of improving visibility, Sosandar is very well positioned to accelerate its growth trajectory and further improve EBITDA. The acceleration in the adoption of online shopping has expanded the long-term market opportunity, and as a pureplay ecommerce brand, the company is set up to successfully cater to customers through this channel.”
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