Sosandar opens fourth site in Cardiff
St David's occupies one third of Cardiff's city centre and Sosandar's new store will be alongside brands such as AllSaints, Mint Velvet, and Reiss
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Sosandar, the women’s fashion brand, has announced that it has signed a lease agreement for its fourth store, in Cardiff’s St David’s centre.
The news follows the recent store openings in Chelmsford, Marlow and the Metrocentre.
St David’s occupies one third of Cardiff’s city centre and Sosandar’s new store will be alongside brands such as AllSaints, Mint Velvet, and Reiss.
The fashion brand’s revenues jumped 9% to £46.3m during the financial year ended on 31 March.
The womenswear brand rose from a £1.3m loss in H1 to an expected profit of £1.1m in H2. As a result, the brand expects FY24 to be in line with market expectations with a marginal loss of £0.2m expected to be reported for the year overall.
Gross margin increased to 57.6%, up from 56.1% in FY23, reflecting the planned reduction in certain price promotional activity ahead of a selective store roll out in the UK.
During the year, the brand has also made “substantial progress” towards opening the first physical stores and overall the company is on track with all elements to execute the store rollout as expected.
Ali Hall and Julie Lavington, Co-CEOs, said: “It’s exciting to announce our fourth store location as we continue our transition to becoming a true multi-channel retailer. Aligned with our strategy and other store locations announced to date, St David’s meets our criteria of opening stores in top tier, thriving locations where Sosandar customers over-index, being the go-to shopping destination in Cardiff.”
Pablo Sueiras, head of Retail Brand Account Management at Cardiff St David’s owner, Landsec, added: “Our guests want to experience new and exciting brands in the best stores, and Sosandar fits this description. Increasingly we are seeing digital-first brands broaden their multichannel offer.
“Destinations like St David’s offer brands a platform to connect with their audience in person, provide exceptional guest experiences and reach new consumers. We’re delighted that Sosandar have chosen St David’s to make their debut in Wales.”
