Sosandar, the online womenswear specialist, has posted a rise in first-half sales and said investment was powering progress at the business.
Sosandarâs revenue climbed 53% to ÂŁ2.82 million in the six months to September 30. The retailer made an underlying EBITDA loss of ÂŁ2.7m â up from ÂŁ1.9m in the comparable period â which it said reflected âincreased upfront investment into the team, product and marketingâ.
Sosandar posted order growth of 47% to 64,709 in the first half, when âactive customers increased by 70% reflecting the increased brand awareness following the trial of new marketing initiativesâ.
The retailer said there had been âsales growth of well over 100% in Octoberâ and that it is on track to meet full-year management expectations.
Sosandar joint chief executives Ali Hall and Julie Lavington said: âThe investments that were made in the latter part of the second quarter have resulted in exceptional Autumn trading.
âPost period end, October was particularly notable, as we hit a special milestone - the first month where net revenues exceeded ÂŁ1 million, a performance which November is on course to exceed.
âIt is becoming increasingly clear that once customers engage with Sosandarâs product range and unique design aesthetics they remain loyal to, and highly engaged with the brand. We have seen continued database growth post period, with our number of subscribers in September up 26% month on month and new subscribers tracking over 300% up versus the same period last year.
âOur vision is to be a global one-stop online destination for our customers, and with a widened product range, strong balance sheet, and a broadened, aggressive, and increasingly effective marketing strategy, we are confident that full-year â20 will be an important next step in that journey.â
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