×
514
Fashion Jobs
HAYS RECRUIMENT
Merchandising Manager - Growing Jewellery Brand
Permanent · LONDON
FOUR SEASONS RECRUITMENT
Ecommerce Manager
Permanent · LONDON
FOUR SEASONS RECRUITMENT
Sales Supervisor
Permanent · LONDON
TOO FACED
Too Faced Business Manager, Boots - Oxford
Permanent · OXFORD
TOO FACED
Too Faced Business Manager - Boots, Leeds Trinity
Permanent · LEEDS
FOUR SEASONS RECRUITMENT
Merchandising Manager
Permanent · LONDON
360 RESOURCING
Account Manager
Permanent · LONDON
BIMBA Y LOLA
Sales Assistant Brompton Road
Permanent · LONDON
BIMBA Y LOLA
Part Time Sales Assistant Brompton Road
Permanent · LONDON
BIMBA Y LOLA
Sales Assistant Richmond
Permanent · LONDON
HAYS RETAIL
Retail Operations Manager
Permanent · LONDON
NEXT RETAIL LTD
Home Design Consultant
Permanent · CAMBERLEY
NEXT RETAIL LTD
Warehouse Administrator
Permanent · DONCASTER
HAYS RECRUIMENT
E-Commerce Manager
Permanent · LONDON
HAYS RECRUIMENT
Eyewear Account Manager South London
Permanent · LONDON
NEXT RETAIL LTD
Home Design Consultant
Permanent · CARDIFF
NEXT RETAIL LTD
Sales Coordinator - Permanent
Permanent · LONDON
360 RESOURCING
Head Office Recruitment Consultant - Fashion Retail
Permanent · LONDON
360 RESOURCING
Temps Controller / Temps Recruitment Consultant - Fashion Retail
Permanent · LONDON
OUTSIDE THE BOX RECRUITMENT
Production Manager-Shoes & Slg-Luxury- London Salary up to £70k
Permanent · LONDON
DEPLOY LONDON
International Sales & Marketing Manager
Permanent · LONDON
FOUR SEASONS RECRUITMENT
Digital Marketing Manager
Permanent · LONDON
Advertisements

Sosandar placing raises £7m, will support move to sell on third-party sites

Published
today Jul 11, 2019
Reading time
access_time 2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

No matter how well a company is doing, cash flow is a key issue and smaller companies need a healthy cash balance in order to grow. So it’s interesting that fast-expanding (but still small) Sosandar on Thursday announced a share placing to raise £7 million.


Sosandar



The online womenswear brand that targets the often-neglected 35+ age group, has raised that amount (before commissions and expenses) through a conditional institutional placing of new Ordinary Shares at a price of 15p each.

The placing price was at a 3.4% premium to the firm’s closing share price on July 10 and was “significantly oversubscribed by new and existing shareholders.”

Co-CEOs Ali Hall and Julie Lavington said of this: “We are very pleased to have successfully raised £7 million, with shareholders showing their support for the business and our growth plans. Our strong financial performance and high level of repeat orders demonstrates the demand for our products and loyalty of our existing customer base. We have considerable momentum in the business.”

And they added that "several opportunities are in the pipeline which will further improve the Sosandar shopping experience and build awareness of the brand to new customers.”

The company said that after recently reporting an annual 228% revenue rise and 224% rise in orders, “given the continued strong performance, the board believes that it is appropriate to raise additional equity to help support and accelerate further growth.”

The proceeds will now support expansion, including enabling it to pursue new opportunities. This is key as the company “is in discussions to sell on third party sites, however to work with them, the company expects it would need to stock up on selected lines and would only be paid in arrears.”

It will also be used to help “the expansion of new supplier relationships and reduce the risk of having to rely on supplier credit to fund future growth, particularly given the current supplier credit backdrop.” And it will add to the product range as well as investing more in customer acquisition.

Copyright © 2020 FashionNetwork.com All rights reserved.