Cheshire fashion brand Sosandar reports 219% jump in quarterly revenue
Wilmslow-based online fashion brand Sosandar PLC has reported a 219% increase in revenue to £1.6m for the three months ended December 2018.
This is higher than the company's revenue for the entire previous financial year and was driven by a surge in repeat orders and continued new customer acquisition.
The company expects revenue for the full year to be slightly ahead of current market expectations, though net loss is expected to be in line with expectation.
Joint CEOs Ali Hall and Julie Lavington founded the company as a “one stop fashion shop” for women. In a joint statement, they said: "We are pleased to be reporting another period of substantial growth over the key trading months to 31 December driven by strong full price sales and high sell through rates, combined with a successful seasonal sale at the end of period."
Gross margin for the quarter was 53.3%, customer database increased 209% to nearly 100,000, conversion rate increased to 3.47%, average order value increased 10% to £105.58, repeat orders increased 527% to over 20,000 and number of orders increased 221% to 35,183.