Sosandar says momentum is continuing
today Sep 19, 2018
Sosandar chairman Bill Murray was upbeat when speaking at the company’s first annual general meeting on Wednesday, praising the progress the company has made since floating on on the London Stock Exchange’s AIM market in November.
He said the board is “delighted with the continued progress being made in all areas of the business”, which started trading in September 2016 and has quickly gained a cult following for its directional, seasonal womenswear.
“I am pleased to confirm that the momentum outlined in our Final Results Statement in July continued through the summer months, with significant progress across KPIs and without the need for extended discounted promotional activity,” Murray said at the annual meeting.
“Autumn has begun well with further expansion of the product range and strong trading across all product categories. We have been particularly encouraged with the performance of higher ticket items such as coats and leather goods.”
Sales have been partly boosted by an expanding number of celebrities wearing Sosandar to events and on TV. Holly Willoughby, Gemma Oaten, Fearne Cotton, Loose Women’s Andrea Mclean and The One’s Michelle Ackerley have all been spotted wearing the brand’s dresses and jumpsuits.
Sosandar has also recently upgraded its e-commerce platform and agreed on a seven day a week service with Clipper Logistics.
“We are very pleased with trading so far during the year which has been in line with management's expectations and we look forward to updating on the first six months of our financial year to 30 September 2018 in due course."
In the year to 31 March, the brand reported revenue growth of 387% to £1.35m.
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