Sosandar PLC (LON:SOSS), the celebrity-endorsed women’s fashion brand, benefits from a simple and scalable capital-light online model, a fast-growing affluent customer base and a robust pipeline of new styles introduced each month. The company is achieving impressive growth across all key performance metrics and has a solid balance sheet to support its rapid expansion in the UK and, we believe, internationally over the medium term.
A one-stop-shop for women’s fashion
Sosandar is a pure-play online retailer of apparel, footwear and accessories with a refreshingly clear objective: to design and sell high-fashion and high-quality, affordable items to an underserved group of women, typically in their mid-30s to mid-50s. The brand was launched in 2016 by fashion industry professionals, Ali Hall and Julie Lavington, and brought to market in November 2017. The recent H119 results showed impressive growth across all key metrics. Sales quadrupled y-o-y to £1.8m, coupled with a +900bp increase in the gross margin and a sharp decline in the total cost/sales ratio, driven by scale economies. Net cash stood at £2.6m, excluding £3m of proceeds from a successful equity placing after the period end.
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