Online womenswear label Sosandar reports 500 percent revenue increase after floating on AIM

The online fashion retailer, which was admitted to trading on the AIM market of the London Stock Exchange following a reverse acquisition of Thread 35 Ltd by Orogen plc., has reported strong growth over the nine-month period finalised on December 31, 2017.

Sosandar PLC (AIM: SOS.L), has announced its unaudited interim results for the nine months ended 31 December 2017. The company enjoyed a whopping revenue jump of over 500 percent over the period, from the 140,818 pounds registered on the comparable period a year earlier to the 861,443 pounds noted by the end of December 2017.

Earnings before taxes and amortisation (EBITDA) more than double year on year, from 994,826 to 2,023,632 pounds.

“We are delighted with the progress being made within the business, which continues to exceed management expectations. Awareness of Sosandar is growing ever stronger and the coverage and recognition that our products receive is promising for a brand so early in its lifecycle.”

Sosandar was launched on 19 September 2016 by Alison Hall and Julie Lavington, who have previously worked together at high street fashion and celebrity style magazine Look, as editor and publishing director respectively.

“The fundraising in November has enabled us to increase our product range and we are already seeing good traction in our higher price point categories, including leather, outerwear and footwear. Our target market is affluent and has been long underserved and we continue to look forward to the future with great confidence.”

Sosandar started trading on the British alternative stock exchange in November last year, after completing the reverse acquisition of Thread 35 Ltd by Orogen plc.