Sosandar, the UK-based online fashion retailer, has announced impressive sales results and a decrease in losses for the first half of the year, ending in September. During this period, the company achieved a remarkable 52% increase in revenue, reaching £4.3 million. While specific figures were not provided, there was a significant improvement in its EBITDA loss.

The positive sales momentum that Sosandar experienced in the first quarter and July continued throughout August and September. In fact, revenue continued to climb, with a 7% increase in August compared to July, and a further 54% increase from August to September. The company attributes this success to its partnership with John Lewis and Next’s webstores, which has yielded promising initial results and led to an expansion of product offerings.

Despite the challenges presented by the ongoing COVID-19 pandemic, Sosandar managed to maintain a healthy gross margin of 52.3% for the first half of the year. Although slightly lower than the 53.6% margin achieved in the same period last year, this performance is commendable. The company attributes its success to its deep understanding of its customer base and its ability to adapt quickly to market changes.

Throughout the pandemic, Sosandar has experienced impressive growth in customer loyalty. Repeat orders increased by 88% compared to the previous year, and there was a 26% increase in new customers, despite a 49% decrease in marketing spend. In August, traditionally a slower month for retail, the company saw strong sales driven by a high proportion of repeat orders and strong demand for full-price high summer products. September was also a record-breaking month, with two days of record trading and a significant increase in monthly sign-ups to the customer database.

To further drive growth and efficiency, Sosandar has reintroduced TV advertising and direct mail brochures, in addition to its existing social and email marketing campaigns. These initiatives have already shown excellent results, as evidenced by the 54% increase in revenue in September. Furthermore, the company plans to focus on carefully controlled customer acquisition in October and November, with the goal of expanding its customer database while preserving cash.

Sosandar’s investment in expanding its product range has proven successful, particularly with its autumn collection. The company has witnessed strong demand for knitwear, denim, loungewear, casual outerwear, and separates such as tops, trousers, and leggings. Leather and faux leather products have also performed well.

In conclusion, Sosandar’s sales momentum, improved financials, and customer growth showcase its ability to navigate the challenging retail landscape. The company’s agility, strategic marketing investments, and appealing product offerings position it for continued success in the future.

Useful links:
Sosandar Investor Relations
Sosandar Official Website