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Sosandar revenues jump 219 percent

By Prachi Singh

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Report

Online women’s fashion brand Sosandar Plc, for the three months ended December 2018 reported revenue of 1.6 million pounds, a 219 percent increase on the same period in 2017 and higher than the company's revenue for the entire prior financial year, driven by a surge in repeat orders and continued new customer acquisition. As a result of the strong trading so far this year, the company expects revenue for the full year to be slightly ahead of current market expectations with the net loss for the year in line.

Elaborating on the company’s performance, Ali Hall and Julie Lavington, the company’s Joint CEOs, said in a media release: "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."

The company added that gross margin for the quarter at 53.3 percent, was up 500bps on the same period last year assisted by holding full price during Black Friday period. Customer database increased 209 percent to nearly 100,000, conversion rate increased 129bps to 3.47 percent, average order value increased 10 percent to 105.58 pounds, repeat orders increased 527 percent to over 20,000 and number of orders increased 221 percent to 35,183.

Picture:Sosandar website
Sosandar