Sosandar predicts 35% FY21 revenue growth to £12.2m
While the group does expect an EBITDA loss for the year, this is set to be reduced by 60% when compared to 2020’s losses
Sosandar, the online women’s fashion brand, expects to report a 35% year-on-year revenue rise to £12.2m for the financial year ended 31 March 2021.
While the group does expect an EBITDA loss for the year, this is set to be reduced by 60% when compared to 2020’s losses.
The e-commerce retailer’s number of orders increased 29% to 276,000 for FY 2021, while repeat orders increased 40% to 190,000 for the period.
Ali Hall and Julie Lavingron, co-CEOs at Sosandar, said: “We are delighted to have shown resilience and our entrepreneurial spirit, overcoming challenges to deliver a significant improvement in revenue and reduction in EBITDA losses.
“The progress we are making reflects the scale of our opportunity and growing demand for our unique offering in the market.”
The company reported “strong sales” with both John Lewis and Next, especially during March 2021 which also saw Sosandar launch with Marks and Spencer as a third-party online retailer.
As of 31 March 2021, the group’s net cash sat at £3.93m, representing a “slightly improved” figure to that of 31 December 2020.
Hall and Lavington added: “Inevitably, some uncertainty remains, however, we are seeing a gradual return to more normalised trading conditions and now have much greater visibility over forward trading.
“We are confident in what the future holds, and believe that Sosandar is well positioned to take advantage of the opportunities ahead of us.”
