Revenues at womenswear etailer Sosandar are expected to rocket 228% to £4.4m for the year to 31 March, following a focus on full-price sales.
The number of orders during the period increased 224% to 102,742, while the number of repeat orders was up 389% to 55,828.
Sosandar’s conversion rate was up 76 basis points to 2.92% and its customer database increased 95% to more than 105,000.
Gross margin for the year increased by 558 basis points to 55%.
The business said it increased efficiencies in marketing spend across all channels throughout the year and it had a “strong balance sheet” with net cash of £3.64m at its year end.
Sosandar said its loss for the year is expected to be in line with market expectations. The company’s broker, Shore Capital, has forecast an EBITDA loss of £3.3m for the full year.
Ali Hall and Julie Lavington, joint CEOs, said it was a year of “substantial growth”: “This has been reflected in market expectations, which have been upgraded twice during the year, and we have now built a strong foundation on which Sosandar can continue to grow as a brand, providing our under-served market with quality, affordable clothing.
“Over the year, we have been focused on both growing our loyal customer base, underpinned by the continued delivery of high-quality clothing, and increasing the efficiency of our spend. Through increasingly sophisticated methods, we have managed to retain a high level of sell-through, alongside good ongoing full-price sales, and significantly increased the efficiency of marketing costs.”