Womenswear brand Sosandar will open its first-ever stores next year as the business looks to develop its omnichannel strategy.
By the spring of next year, the company hopes to establish its first locations in “affluent towns with thriving high streets.” It will be self-funded with current cash assets of the business.
Being a completely multichannel store, “diversifying its routes to market, and increasing brand awareness across its target demographic”, according to Sosandar, represents a crucial step in the company’s growth trajectory.
The move is intended to get the company one step closer to realising its ambition of being one of the biggest womenswear brands worldwide.
Ali Hall and Julie Lavington, Co-CEOs at Sosandar, said, “Our decision to open our own stores is the logical next step as we look to offer our customers more ways to engage and shop with Sosandar.”
For the six months ending September 30, Sosandar reported an increase in net revenue of 6 per cent to £ 22.3 million, but a loss before tax of £ 1.3 million.
Despite the exceptionally warm weather in September, the firm reported that autumnal trading has started “very well.” NEXT and Marks & Spencer in particular have reported “very strong” third-party sales.
Sosandar made its debut at Sainsbury’s during the first two weeks of October, selling “well” across all nine locations. The brand’s new alliance with Freemans has had a successful start to business. In FY ’24, the company projects revenue to increase 10 per cent to £ 46.8 million.
