Sosandar revenues soar in half-year results
Online fashion brand Sosandar saw revenues increase by 53% to £2.82m in the six months to 30 September 2019.
It also revealed that orders grew by 47% to 64,709, as active customers increased by 70% reflecting the increased brand awareness following the trial of new marketing initiatives.”
However, Sosandar made an underlying EBITDA loss of £2.7m in the six months to 30 September, an increase from £1.9m compared with the same period last year, due to “increased upfront investment into the team, product and marketing”.
Commenting on the results, joint CEOs Ali Hall and Julie Lavington said they were “delighted” about the results.
They said: “Post period end, October was particularly notable, as we hit a special milestone – the first month where net revenues exceeded £1m, a performance which November is on course to exceed.
“It is becoming increasingly clear that once customers engage with Sosandar’s product range and unique design aesthetics they remain loyal to, and highly engaged with the brand.”
They added: “We have seen continued database growth post period, with our number of subscribers in September up 26% month on month and new subscribers tracking over 300% up versus the same period last year.”
