– Supermarket giant stocks Sosandar products online and in stores
– The first range containing Sosandar bestsellers
– Tie-up continues into record Christmas quarter
stock Sothander (SOS: Aim) FTSE 100 Online women’s fashion brands soared most of their 23p 10% higher after announcing a wholesale deal with supermarket giant Sainsbury’s.
Importantly, the partnership will see Cheshire-based Sosandar expand into in-store retail for the first time, previously selling only online through its own site and existing third-party stockers. It will be. Marks & Spencer (MKS)John Lewis, Next (NXT)The Very Group, JD Williams.
First physical retail store move
Under the terms of the partnership, British fashion brand Sosandar will sell a select collection of its products through the supermarket giant during 2023.
The initial product range will include Sosandar’s high-performance collection and accessories’ best-selling styles, and importantly, the partnership will include Sosandar’s first store presence.
According to management, the move will allow the company to become a “true omnichannel retailer”, “driving growth sales and pre-tax profit” while increasing brand awareness across its target customer base. I can.
Online trading for strong growth
Sosandar said that its existing online partnerships with John Lewis, Marks and Spencer, Next, The Very Group, and JD Williams to date will continue to record sales through third parties for the third quarter through December 31, 2022. We had a good quarter, and we’re doing really well,” he added. .
Sainsbury’s partnership builds on a brighter Christmas deal update from Sosandar, which reported third quarter earnings up 30% year-on-year to £11.6m, a quarter that was a positive one for the group. It has recorded five consecutive quarters of profitability.
The average order value for the quarter was £106.37, up 11% from £95.69 last year. Sosandar said all product categories saw growth, with knitwear, formal his tailoring, coats and party wear doing very well throughout the winter.
What are the words of the CEO of SOSANDAR?
Sosandar co-CEOs Ali Hall and Julie Lavington commented:
Shore Capital added: to his £1 billion+ business wide range of clothing offerings centered around the in-house Tu brand.
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Publication date: January 23, 2023