Online womenswear retailer Sosandar has reported a strong start to its new financial year following reduced losses and a rise in sales.
Sosandar’s sales advanced 35% to £12.2m in 2020, when EBITDA losses were reduced to £2.92m from £7.66m in 2019. In the first quarter of the new financial year, revenues rose 256% year-on-year.
Last year Sosandar launched with John Lewis, Next and Marks & Spencer. The etailer said it had an increasingly engaged and loyal customer base - repeat orders rose 40% to 189,703 and average order frequency was up 23%.
Co-chief executives Ali Hall and Julie Lavington said: “We are delighted to report a year of very strong growth and performance alongside considerable operational progress.
“We are now well placed to accelerate towards profitability”
”We have continued to expand and further diversify our product range, using targeted spending to maximise ROI and demonstrated strong cash retention, resulting in a significant growth in revenue and reduction in EBITDA losses.
”Whilst there is wider uncertainty around the ongoing effects of the pandemic, we are optimistic about what the future holds for Sosandar.
”With a clear growth plan and numerous opportunities ahead of us, we are now well placed to accelerate towards profitability.”
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