Wilmslow-based fashion firm Sosandar plc has reported “a record month of trading in November, with similar momentum in December to date.”
Sosandar said revenue for October and November was in excess of £10 million, a 16% increase on the same period last year and a significant improvement on the growth achieved in the first half of its financial year.
“Autumn trading has been strong, and the company is trading in line with full year market expectations,” said Sosandar.
Sosandar, run by former magazine publishers Ali Hall and Julie Lavington, said that for the six months ended September 30, 2023, it reported revenue growth of 6.% to £22.2 million and a loss before tax of £1.3 million.
Hall and Lavington, co-CEOs, said: “Over the past six months, we have made significant steps on our journey to become a multi-channel retailer whilst also expanding the reach of the Sosandar brand.
“We are delighted to have launched new partnerships with Sainsbury’s and Freemans, signed our first agreements with two large prestigious international third-party partners and announced that we intend to open our first own stores in Spring 2024.
“Our product remains the key driver of our success and keeps our customers returning to us for their wardrobe needs.
“Throughout the period, we saw growth across all product ranges with particular success in our summer occasion wear and beach and swim ranges over the summer.
“In the lead up to Christmas we have seen extremely strong sales across all categories with party wear, dresses, tailoring, knitwear and smart trousers being standout items.
“Trading in the second half of the financial year to date has been encouraging, in line with full year market expectations, with November a record month of trading. This strong performance has been delivered across all our channels.
“Looking ahead, we believe that the future is very bright as we take the Sosandar brand to more customers across the UK and worldwide and move further towards reaching our strategic goal of delivering £100m+ revenues and a pre-tax profit margin of at least 10% in the medium term.”
Sosandar believes that market expectations for the year ending March 31, 2024, are currently for revenue of £46.8 million and profit before tax of £100,000.