Sosandar posts strong revenue growth
Women’s fashion retailer Sosandar has posted a 184% uplift in revenue to £12.2 million in the six months to 30 September.
In its half year results statement, the company said its EBITDA loss improved to £0.99 million against a comparative period in the prior year where spending was significantly reduced in response to the Covid-19 pandemic. Following the period end, EBITDA was positive in both October and November.
Sosandar said it made sustained progress against all elements of its growth strategy in the six months, including cultivating partnerships, expanding its product range and continuing to grow levels of customer engagement through marketing activity.
Ali Hall and Julie Lavington, Sosandar co-chief executives, said: “We are delighted to be reporting such strong revenue and active customer growth as well as reaching a significant milestone in delivering two EBITDA positive months in October and November.
“This pivotal achievement reflects customer engagement KPIs being substantially ahead of the prior year, including the increase in our number of active customers, repeat customers and conversion rates, highlighting the effectiveness of our marketing strategy, diverse product range and operational excellence.”
Sosandar’s revenue for the period from 1 October to 29 November was up 120% on the same time in 2020 as the company enjoyed a record number of website visits and orders.
Looking ahead, Hall and Lavington said: “Whilst we are cognisant of ongoing supply chain challenges, we continue to mitigate the impact and our long-term growth strategy remains unchanged. The company is trading ahead of market expectations for the full year and we look forward to a successful second half and beyond.”