In its latest trading update, fashion business Sosandar said that it expects to achieve revenue of ‘at least’ £9 million for the year to 31st March. This would represent over 100 per cent growth year on year. The business had enjoyed strong repeat ordering and an increase in active customer numbers of 111 per cent. It had invested marketing spend in TV advertising during Q2 and Q3.
In terms of current trading it continued to achieve sales growth between 1st April and 31st May, had reduced its marketing expenditure, and reached agreements with John Lewis and Next to go live on their platforms in Autumn/Winter 2020. It had also added the Klarna payment option to its website as well as taken advantage of the government’s furlough scheme to lay off 60 per cent of its staff.
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