Sosandar PLC AGM Statement (2034N)
23 Settembre 2019 - 8:01AM
UK Regulatory
TIDMSOS
RNS Number : 2034N
Sosandar PLC
23 September 2019
Date: 23 September 2019
On behalf of: Sosandar plc ('Sosandar' or 'the Company')
Embargoed until: 0700hrs
Sosandar plc
AGM Statement
Bill Murray, Non-Executive Chairman of Sosandar plc, the online
women's fashion brand, will provide the following update to
shareholders attending the Annual General Meeting ("AGM") of the
Company, being held today at 13.00:
"It has been an exciting time of growth and development for
Sosandar. As we approach the end of the first half of the current
financial year, I am delighted to report that the increased
investment we've made into marketing and product is producing very
good results.
Following the completion of our oversubscribed placing in July,
we have accelerated our growth by carefully deploying funds to
strengthen our design capability, widen our product range and trial
additional marketing channels. As expected, we've seen these
activities result in increased customer acquisition alongside
continued growth from our ever-expanding base of loyal existing
customers.
The important Autumn period has only just begun but results for
the first half of September have been very strong, and midway
through September revenue has already exceeded that achieved in
September last year.
September has also seen our first foray into TV advertising with
a controlled test in the North West with ITV. Whilst this activity
is it still in its infancy, early results are encouraging, which
has led to additional testing being undertaken in other TV regions.
We have also started to use out-of-home digital media for the first
time, with Sosandar advertising appearing across digital panels
alongside station escalators at key London underground stations
including Euston and Kings Cross St Pancras. We expect the
contribution to brand recognition and awareness that this creates,
together with our TV advertising, to be significant and, over time,
we are confident it will further support our work in new customer
acquisition and retention.
Recent brochure activity has also delivered strong results, as
has social media activity which remains a crucial strand in pulling
together our marketing and communications activity. Our celebrity
fans, such as Amanda Holden and Susanna Reid, combined with a
multitude of social influencers, have recently been visible on
national media wearing our clothing and sharing their enthusiasm
for the brand across their social profiles.
We continue to measure and assess the impact of all our
marketing channels closely, particularly how the expansion into new
channels amplifies results, and we are quickly learning a huge
amount about what works best for Sosandar and how to accelerate
return on investment.
In recent months our supplier base has been expanded
substantially to support the broadening product range. The
increasing product range has also contributed to third party
platform interest. Sosandar is now successfully trading with Silk
Fred and opportunities are presenting themselves to work with other
interested parties.
We are pleased with the recent performance of the business,
which has been in line with management expectations. We are
well-funded for continued growth and these are extremely exciting
times for Sosandar.
I would like to emphasise again the board's gratitude and
appreciation for the endless hard work and enthusiasm of Julie, Ali
and their growing team. We have some amazing talent and Sosandar is
increasingly able to attract the best people in the industry. That
is testament to the terrific product and first class commercial
strategy that the founders oversee."
Enquiries
Sosandar plc www.sosandar.com
Julie Lavington / Ali Hall, Joint CEOs c/o Alma PR
Shore Capital
Patrick Castle / Mark Percy / James
Thomas +44 (0) 20 7408 4090
Alma PR Limited +44 (0) 203 405 0205
Rebecca Sanders-Hewett / Susie Hudson sosandar@almapr.co.uk
/ Sam Modlin
About Sosandar PLC
Sosandar is an online womenswear brand, specifically targeted at
a generation of women who have graduated from throwaway fashion and
are looking for quality, affordable clothing with a premium,
trend-led aesthetic. This is a section of the market that is
currently being underserved.
Sosandar was launched in September 2016. The Sosandar business
model is built around using trend-led, exclusive designs produced
in-house and then manufactured using a variety of global suppliers.
Sosandar caters 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 Ali Hall and Julie Lavington, who
previously launched and ran high street fashion magazine Look, as
editor and publishing director respectively. They have a combined
experience of over 35 years in the fashion industry, including in
the design, manufacture and sale of fashion ranges for some of the
UK's high street retailers, including Debenhams, Office, Oasis and
JD Williams.
More information is available at www.sosandar-ir.com
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END
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