Sosandar outlines impressive sales performance during Covid-19

Fashion retailer Sosandar has reported impressive sales figures during the Covid-19 pandemic, with the online womenswear brand well placed to adapt to the consumer shift to eCommerce.

It revealed that in Q1 of FY21 (1 April to 30 June), revenue increased 54% year-on-year. This continued in July, when sales grew 57%. And the fashion retailer said the number of active customers increased 98% year-on-year in July.

Sosandar added it was able to reduce operating costs by 71% in Q1 and by 84% in July and has achieved a strong cash position of £4.34 million as of 31 July.

These figures followed a substantial growth in sales of 103% in the year ended 31 March 2020, with revenue reaching £9.03 million. However, EBITDA losses for the retailer was £7.66 million in the 12 months, which it largely attributes to investments made to the team, supply chain, and marketing.

In FY19, there was also a 111% increase in customer numbers, a 128% rise in web visits, and 108% growth in orders.

Ali Hall and Julie Lavington, co-CEOs at Sosandar commented: “We’re delighted to report another year of growth, and one in which we achieved a significant shift in terms of customer base and infrastructure, providing stronger foundations for continued future growth.

“This proved especially valuable during lockdown where having a larger base of customers, combined with an enhanced product offering, allowed us to navigate difficult trading conditions, growing our customer base further and increasing their order frequency whilst preserving cash.”

They added: “The resilient performance achieved throughout Q1 has continued into Q2 of our current financial year. Our increasing confidence underpins our decision to begin increasing marketing spend with careful, controlled investment into customer acquisition from September to November, subject to any further impact of Covid-19.

“We remain cautiously optimistic about the coming months and more excited than ever about the longer-term prospects for Sosandar.”

The figures accurately reflect the optimistic predictions made by the brand in June about its progress both pre and during the Covid-19 crisis.