Sosandar first-half sales surge as demand picks up

(Sharecast News) - Sosandar reported a big jump in first-half revenue on Thursday following strong trading from its own website and third parties as demand for 'going out' and work wear increased, sending shares in the online fashion brand surging.
In the six months to 30 September, revenues rose 184% from the same period a year ago to £12.2m, with record revenue in September as demand accelerated for new season products.

Website visits were up 67% to more than 6m and the number of active customers grew 41% from March.

Sosandar said the first half began "strongly" as Covid-19 restrictions eased and momentum continued to build during the period. Trading with third parties such as M&S, Next and John Lewis was "very strong", it said.

Early autumn sales have also been "very strong" as demand for 'going out' and work wear has increased.

"The company took the decision to bring in stock early for autumn, anticipating early demand for partywear, coats, boots and knitwear," it said. "Sequins, Christmas jumpers and fur coats are already best sellers."

Co chief executives Ali Hall and Julie Lavington said: "We are delighted to report another strong period for Sosandar with enhanced sales delivered across our entire product range as customers begin to return to the office and attend events. After over a year in loungewear our customers are clearly enjoying a return to fashion.

"With a substantial increase delivered in active customers, repeat customers and conversion rate, we can see the benefits of our marketing strategy, broadened range and operational improvements flowing through. Our sales continue to see great growth momentum both on the Sosandar website and with our third party partners and we are very excited about the opportunity that lies ahead for the company."

At 1100 BST, the shares were up 19% at 30.11p.