Sosandar PLC Trading Update (8560Y)
December 11 2017 - 1:00AM
UK Regulatory
TIDMSOS
RNS Number : 8560Y
Sosandar PLC
11 December 2017
Sosandar plc
("Sosandar" or the "Company")
Trading update
Sosandar plc (AIM: SOS.L), the online women's fashion retailer,
is pleased to announce that trading since 31 August 2017 to the end
of November has exceeded management expectations. The new funds
raised at the time of the reverse takeover on 2 November 2017 are
enabling the business to acquire larger and wider ranges of product
and has also enabled the business to accelerate its media and
marketing activities. Investment in new marketing channels has
yielded strong results and will be further expanded in order to
drive new customer acquisition.
Julie Lavington and Ali Hall, Joint CEO's, commented: "We are
delighted with the progress we have made to date and the additional
funds we have recently raised has allowed us to drive significant
momentum into the business. Our depth of product is expanding, we
are now able to buy larger lines of product, thus reducing lead
times and increasing margin."
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
Enquiries
Sosandar plc
Julie Lavington / Ali Hall c/o Walbrook PR
Cairn Financial Advisers
LLP (Nominated Adviser) +44 (0) 20 7213 0880
Sandy Jamieson/Liam Murray
/ Richard Nash
Turner Pope Investments (TPI)
Limited (Broker) +44 (0) 20 3621 4120
Andy Thacker
Walbrook PR +44 (0) 20 7933 8780
Paul Cornelius / Nick Rome sosandar@walbrookpr.com
/Sam Allen
About Sosandar
Sosandar is an online womenswear brand specifically targeted at
a generation of women who have graduated from younger online and
high street brands, and are looking for affordable clothing with a
premium, trend-led aesthetic. Based on previous experience within
the UK fashion industry and their understanding of the target
demographic, this is a section of the market that the Company
believes is currently being overlooked.
Sosandar was launched on 19 September 2016 following ten months
of preparation that included building the management team,
designing the initial Sosandar range, sourcing suitable suppliers,
appointing a logistics provider and building the website. The
Sosandar business model is built around using trend-led, in house
designs that are sourced from a variety of global suppliers to
cater for a growing market of fashion conscious women, while
utilising an outsourced logistics provider that can support its
planned growth over the coming years.
Sosandar's founders are Alison Hall and Julie Lavington, who
have previously worked together at high street fashion and
celebrity style magazine Look, as editor and publishing director
respectively. They have a combined experience of over 35 years in
the media and fashion industries, including in the design of
fashion ranges for some of the UK's high street retailers,
including Debenhams, Office, Oasis and JD Williams.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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