Sosandar sees full year revenue growth of 228 percent

Online women’s brand Sosandar expects to report very strong revenue growth of 228 percent to 4.44 million pounds (5.81 million dollars) for the year ended March 31, 2019. The company said, repeat orders for the year increased 389 percent to 55,828, while number of orders increased 224 percent to 102,742 and number of new customers increased 131 percent to 46,914. Sosandar added that the company continued to trade strongly in the fourth quarter with the emphasis on full price sales and the loss for the year is expected to be in line with market expectations.

Commenting on the trading update, Ali Hall and Julie Lavington, Sosandar’s Joint CEOs, said in a statement: "We are delighted to be reporting a year of substantial growth across all our key metrics including revenue, orders and new customers. This has been reflected in market expectations which have been upgraded twice during the year and we have now built a strong foundation on which Sosandar can continue to grow as a brand, providing our underserved market with quality, affordable clothing."

Sosandar further said that customer database increased 95 percent to over 105,000 during the year under review, while conversion rate increased 76 bps to 2.92 percent and average order value increased 10 percent to 103.19 pounds (135 dollars). Gross margin of 55 percent, was up 558 bps year-on-year.

Picture:Sosandar website