Sosandar sales climb as it targets first physical stores

The retailer grew sales 9% for the 12 months to 31 March 2024, from £42.5m on the year prior.

Sosandar, which currently sells premium womenswear through its website, app and third-party retailer partners like Next and M&S, said it had made “substantial progress” on its plans to open physical stores. 

The retailer told markets that it had identified several shops in “top tier locations” at various stages of progression, including some now reaching the latter stages. 

Exact timings have not been announced for its selective store rollout, but the retailer said it was “on track with all elements” to execute openings in “affluent, thriving locations where Sosandar customers over-index”. 

Sosandar co-CEOs Ali Hall and Julie Lavington said: “We have delivered a robust financial performance for FY24, delivering a profitable second half, accelerating revenue growth whilst at the same time growing our margin and generating cash.

“This performance has been achieved against one of the most challenging backdrops our industry has experienced and is testament to how our customers feel about our on-trend, affordable, long lasting, lifestyle appropriate clothes.”     

She continued: “The strength of our brand and unique product range remain the key drivers of our success and keep our customers returning to us for their wardrobe needs. We are incredibly proud to see the success that our Sosandar clothes are having in the UK’s biggest retailers and through our first partnerships internationally.  

“We enter the new financial year well placed, with a strong cash position in order to execute the next stage of our growth strategy. April trading has been strong with continued improvement in profitability driven in particular by gross margin.

“We fully expect that we will deliver more milestones in FY25 as we open our first physical retail stores and continue to take the Sosandar brand to more customers across the UK and worldwide.”