- Danielle Wightman-Stone |
Online womenswear retailer Sosandar, which floated in AIM last month, has stated in a trading update that it has “exceeded management expectations” in the period from the end of August to the end of November.
In its first trading update since entering London’s AIM on November 2, following a reverse takeover, the business has said the funds raised had enabled it to “acquire larger and wider ranges of product,” while also enabling the business to accelerate its media and marketing activities.
In addition, Sosandar’s investment in new marketing channels has yielded strong results and will be further expanded in order to drive new customer acquisition.
Julie Lavington and Ali Hall, joint chief executive’s, said: “We are delighted with the progress we have made to date and the additional funds we have recently raised has allowed us to drive significant momentum into the business. Our depth of product is expanding, we are now able to buy larger lines of product, thus reducing lead times and increasing margin.”
Sosandar was launched in 2016 by former Look magazine editor and publisher Hall and Lavington, with the aim of curating a “one-stop shop for the affluent, professional woman who has graduated from price-led alternatives”. Prior to trading, the womenswear brand had completed two seed investment rounds to fund the design of the initial Sosandar fashion range from scratch, to build the 'mobile-first' website and develop a scalable supply chain including overseas manufacturers and UK based logistics suppliers.
Image: Sosandar Facebook