Sosandar reports accelerated growth
Sosandar has said it expects its revenue to have risen by 53% to £2.82 million in the six months to 30 September compared to the same period last year.
In a trading update, the online women’s fashion retailer said revenue increased by 84% in its second quarter and by 112% in September.
In addition, October has been the first month in which its net revenues have passed the £1 million mark.
The company’s strategy has included holding back customer acquisition funds from its first quarter to invest in future months, whilst also investing in product teams to help drive performance from autumn/winter 2019 onwards.
Ali Hall and Julie Lavington, Sosandar joint chief executives, said: “Our ability as an online retailer to employ an agile strategy resulted in us focusing our customer acquisition activity on the important autumn months towards the end of the period and carrying into current trading. As expected, the accelerated investment into marketing and product is producing strong results with record months in September and October.”
The company said it has been pleased with the success of its new advertising activity and is now planning to increase investment in marketing, especially via TV.
Hall and Lavington added: “With a widened product range offering, strong balance sheet, and a broadened, aggressive, and increasingly effective marketing strategy, we are confident about the full year.”
