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Sosandar sales rocket 268%

Womenswear etailer Sosandar said it expected full-year revenue to be at least £1.34m for the year to 31 March.

Like-for-like sales for the six months to 31 March soared 268%. The etailer said record monthly revenues were achieved in March and substantial momentum has continued into the new financial year.

It said growth reflected the impact of successful marketing campaigns and increased brand awareness. Facebook and Instagram followings have also increased by 181% and 888% respectively during the year.

It has also invested in a variety of new marketing channels, the most successful of which it says has been direct mail.

Since the company’s listing on the London Stock Exchange junior Aim market in November, Sosandar said it has expanded its product range and increased the quantity of stock ordered in commercially proven product lines.

Significant margin improvements have been achieved through both the economies of scale from increased order quantities and a higher proportion of sales from product sold at full price. Gross margin for the financial year 2018 is expected to be at 49.3%, compared to 37.8% the previous year.

Sosandar joint CEOs Ali Hall and Julie Lavington said: “It is particularly pleasing that we recorded our highest monthly sales figure in March [which was subsequently beaten by a further 32% growth in April], demonstrating that our business is less seasonal than peers, and the speed at which we are growing.

“Sosandar’s unique positioning and affordable, quality products are attracting a growing fanbase of repeat customers, as well as a plethora of celebrities and fashion influencers who choose to wear our clothes repeatedly. This momentum has continued into the new financial year, and we look forward to updating the market further at full-year results.”

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