Sosandar up as it delivers revenue growth

1 mins. to read
Sosandar up as it delivers revenue growth

The price of shares in AIM-listed digital fashion firm Sosandar (LON:SOS) climbed 4.17% to 15.62p (as of 15:45 BST) as revenues for the six months ended 30th September climbed by 53%. The beginning of partnerships with NEXT and John Lewis has positive with both retailers expanding their initial ranges, and the company has also started customer acquisition activities in September with solid early results. However, gross margins were down slightly, in large part due to actions taken early during lockdown.

CEOs Ali Hall and Julie Lavington commented: “We are delighted to have continued to demonstrate the strength of the Sosandar brand and agility of our model, growing our sales, product range and customer base during such a challenging trading environment.

“Our customer database, and their loyalty, is the backbone of our performance. The feedback from our customers throughout lockdown has been fantastic and it is clear that they love wearing Sosandar clothes, whatever the circumstances. Following the successful re-introduction of TV advertising and brochure activity in September, we will continue cautiously investing in marketing to underpin customer database growth throughout October and November.

“Notwithstanding the continued uncertainty, we continue to believe that we can take significant market share within our demographic, particularly as the lockdown period escalated growth in online retail. We remain confident in what the future holds for Sosandar“.

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