Wilmslow-based fashion firm Sosandar plc has reported its first full year of profitability for the “transformational” 12 months to March 31 — and flagged a strong start to the first quarter of the current financial year with revenue of £11.4 million, up 10% against a strong prior year comparator.
Sosandar, run by former magazine publishers Ali Hall and Julie Lavington, delivered full-year profit before tax of £1.6 million, which is a £2.2 million positive swing versus the previous year’s £600,000 loss.
Revenue soared 44% to £42.5 million. Total orders increased 22% to 621,000 and active customers increased 19% to 265,000.
Sosandar co-CEOs Ali Hall and Julie Lavington said: “We are delighted to report on what has been a transformational year for Sosandar.
“Despite the challenging macroeconomic backdrop, we have seen increasing demand for our products across all categories with strong trading across both Sosandar.com and through our third-party partners.
“The sustained growth in revenue and profitability throughout the period is testament to ourability to deliver a unique quality product offering and highly effective marketing strategy, that resonates with our customer base.
“Our success to date would not be possible without the commitment and dedication of our team and we would like to take this opportunity to extend our appreciation to all of our staff for their hard work during the year.
“As Sosandar continues to grow, we remain committed to investing in our product range to offer our customers an ever-growing variety of on-trend, affordable, long lasting, lifestyle appropriate clothes.
“We are delighted to report that demand for our fast-tracked product range has continued to increase with knitwear, formal tailoring, coats, partywear, summer occasion wear and swim and beach wear all performing particularly well during the year.
“Our third-party partnerships continue to perform extremely well and we were delighted to become an omnichannel retailer through our partnership with Sainsbury’s.
“The partnership will accelerate growth in our market share and the awareness of our brand as we provide our large but underserved demographic with more opportunities to purchase our unique and diverse products.
“We are also excited that we will imminently be able to transact and fulfil orders worldwide through our agreement with Global-e which is set to go live this month, providing women across the globe with access to our unique and diverse product range.
“The momentum built throughout FY23 has continued into FY24 with current trading in line with expectations.
“We are very excited for the opportunity available to us in FY24 and beyond as we deploy the money raised from our over-subscribed equity fundraise in January 2023 to support our growth both in the UK and internationally.”