Womenswear etailer Sosandar has reported gross profits of £409,000 for the nine months to 31 December 2017, up from £72,000 in the same period the previous year.
Revenue also grew, rising to £861,000 compared with £141,000 in 2016. However, operating losses widened from £1m in the nine months to 31 December 2016 to £2.1m for the same period in 2017.
Launched by former Look magazine editor Ali Hall and ex-publishing director Julie Lavington in September 2016, Sosandar raised £5.3m last November after it floated on the London Stock Exchange’s Aim market. The fundraising has been used to increase the etailer’s product offer, including expanding into leather, outerwear and footwear.
The etailer seeks to fill a gap in the market for ”women who have graduated from younger online brands” who are looking for ”affordable clothing with a premium aesthetic”.