Sosandar PLC AGM Statement (1786B)
September 19 2018 - 2:00AM
UK Regulatory
TIDMSOS
RNS Number : 1786B
Sosandar PLC
19 September 2018
Date: 19 September 2018
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 11.00am:
"I would like to welcome shareholders to the Company's first
AGM.
Sosandar has achieved a great deal in the time since its
admission to trading on AIM in November 2017 and the Board is
delighted with the continued progress being made in all areas of
the business.
I am pleased to confirm that the momentum outlined in our Final
Results Statement in July continued through the summer months, with
significant progress across KPIs and without the need for extended
discounted promotional activity. Autumn has begun well with further
expansion of the product range and strong trading across all
product categories. We have been particularly encouraged with the
performance of higher ticket items such as coats and leather
goods.
Focused customer acquisition activities across all channels have
become increasingly efficient whilst continuing to drive demand for
our chic and fashion-forward products. We are particularly pleased
by the levels of PR achieved, with Sosandar products being worn by
an ever-increasing number of high-profile celebrities and fashion
influencers. This serves to both drive sales and enhance brand
awareness, complementing our investment in digital and direct
marketing.
We have also made operational advancements including working
with our partner, Clipper Logistics, to move to a seven day a week
service and upgrading our e-commerce platform to Magento 2. Both of
these investments demonstrate our commitment to building for growth
whilst providing the best customer experience. These will, in turn,
provide our growing number of repeat customers with improved
delivery options and increased functionality as we continue to
scale.
We are very pleased with trading so far during the year which
has been in line with management's expectations and we look forward
to updating on the first six months of our financial year to 30
September 2018 in due course."
Market abuse regulation
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) No 596/2014.
Enquiries
Sosandar plc www.sosandar.com
Julie Lavington / Ali Hall, Joint c/o Alma PR
CEOs
Shore Capital +44 (0) 20 7408 4090
Patrick Castle / Mark Percy / James
Thomas
Alma PR Limited (Financial PR) +44 (0) 208 004 4217
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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