Sosandar has good Christmas, expects higher annual revenue
today Jan 9, 2019
Clothing brand Sosandar continues its meteoric rise, reporting revenues of £1.6m in the Christmas quarter just two years after its launch.
The brand, focused on fashion for women over 40, said revenue for the three months ended 31 December was ahead of its expectations, rising by 219% on the previous year.
The performance was driven by surge in repeat orders and continued new customer acquisition, helped by a higher number of celebrities and influencers wearing the brand at events and on social media.
In fact, Sosandar’s customer database increased 209% to nearly 100,000 during the period, and conversion rates improved by 129bps to 3.47%. On average, customers are now spending £105.58 per transaction, the company said.
And this growing customer base helped narrow its EBITDA loss compared with the previous year, according to a statement released on Wednesday.
"We are pleased to be reporting another period of substantial growth over the key trading months to 31 December driven by strong full price sales and high sell through rates, combined with a successful seasonal sale at the end of period. We are delighted by the engagement we are building with our customers, evidenced by the increase in visits, orders and especially conversion and margins which are already comparing favourably with established businesses,” Ali Hall and Julie Lavington, joint CEOs, commented.
TRADING AHEAD OF EXPECTATIONS
With £70 dresses and a selection of coats priced from £80 to £250, Sosandar is quickly emerging as an affordable brand for women who are looking for quality clothing with a premium aesthetic.
Indeed, its partywear and leather categories are performing particularly well, and new areas such as loungewear and accessories are showing “promising” signs.
The label’s return rates have also decreased slightly, demonstrating the strength of its diverse product mix in the Autumn/Winter season.
As a result of the latest results, Sosandar expects revenue for the full year to be slightly ahead of current market expectations with the net loss for the year in line.
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