Sosandar posts revenue growth of 122%
Women’s fashion retailer Sosandar has grown its third quarter revenue by 122% to £8.85 million.
In addition, the retailer achieved its first EBITDA positive quarter in the period as its works towards annual profitability.
Sosandar attributed the performance to its product offering, high levels of customer engagement and growing brand awareness. It also benefited from its significantly expanded autumn/winter range that resonated well with customers.
Ali Hall and Julie Lavington, Sosandar co-chief executives, said: “We are delighted to report a record quarter for Sosandar, with each month being EBITDA positive. Our expanded product range and effective communication with our customers, in line with our strategy, has been a key driver of the growth we have delivered. The strength of our trading, together with the impact of our increased scale, is leading us towards sustainable profitability.”
During the three month period ending 31 December, the retailer increased its number of active customers by 62% to 213,715. It also saw a 12% uplift in order frequency to 2.23 times per annum.
Meanwhile, its average order value rose to £95.18 from £84.51 in the prior year.
Sosandar said trading post-Christmas has been strong with demand following trends of expected seasonality. As a result, the retailer said it is continuing to trade in line with recently upgraded market expectations for the current financial year.
Hall and Lavington added: “We continue to trade very well, with our expanded product range and innate agility enabling us to tailor our offering to customer demand. We remain vigilant to the external challenges, however, we have not experienced any material disruption at this time and believe our approach continues to position us well going forward.”
