Sosandar, a prominent womenswear brand, has announced significant financial developments, accompanied by strategic retail plans.
- The brand’s revenue has increased by 9% to £46.3 million for the year ending March 31, 2024.
- Partywear, dresses, tailoring, and knitwear sales have been integral in driving revenue.
- Despite financial improvements, the brand reported a loss of £0.3 million for FY24 due to fluctuations across the fiscal quarters.
- Plans for new store openings in Marlow and Chelmsford have been revealed, with launch dates set for September.
Sosandar, a leading name in the womenswear segment, has disclosed a 9% increase in revenue, marking a rise to £46.3 million for the fiscal year ending March 31, 2024. This financial uplift has been largely fueled by robust sales across partywear, dresses, tailoring, and knitwear categories. These segments have significantly bolstered the revenue stream, demonstrating the brand’s keen understanding of market demands and fashion trends.
Despite these positive revenue figures, Sosandar faced a minor setback with a reported loss of £0.3 million for FY24. This loss comes in the wake of contrasting fiscal performances throughout the year. After experiencing a profitable second half with a pre-tax profit of £1.0 million, the brand had previously encountered a £1.3 million loss in the initial six months of the year. Such financial variances highlight the challenges and volatility within the retail industry.
The brand has shown a commendable improvement in its gross margin, achieving a 57.6% margin, which denotes a 2.4% increase from the previous fiscal year. Furthermore, the second half of FY24 witnessed a strong cash generation, helping Sosandar enhance its net cash position by 8% to reach £8.3 million as of March 31, 2024. These financial metrics reflect the brand’s strategic focus on maintaining fiscal health and resilience.
Looking ahead to the first quarter of FY25, Sosandar remains cautious in forecasting year-end outcomes, underscoring its commitment to prioritizing margin sustainability over aggressive revenue growth pursuits. The brand anticipates maintaining its pre-tax profit levels in line with expectations, despite projecting current year revenues to match those of the previous year.
In a strategic retail move, Sosandar has unveiled plans to inaugurate its first physical stores in Marlow and Chelmsford, scheduled to open in September. These locations have been strategically selected for their affluence and shopper demographics aligned with Sosandar’s target audience. The co-CEOs emphasized the importance of these stores being positioned in prime areas, illustrating a disciplined approach to expansion and market penetration. As Ali Hall and Julie Lavington articulated, “We believe that the future is very bright as we take the Sosandar brand to more customers across the UK and worldwide.”
Sosandar’s thoughtful financial scrutiny and strategic retail expansion mark a pivotal step in its growth trajectory.
