Sosandar has reported slower growth in the first half of the year, but has announced plans to broaden its strategy to include its first high street shops.

In the six months to 30 September, the group reported net revenue growth of 6% compared to H1 to £22.2m, whilst recording a loss before tax of £1.3m, compared to a profit of £100,000 in the first half of the 2023 financial year.

Furthermore, net cash dropped year-on-year from £10.6m to £7m in the same period.

Despite these results, Sosandar has announced that it is looking to include high street shops in its strategy outlook, as well as expansion into additional regions.

These follow signed deals with The Bay in Canada and the Iconic in Australia, which will sell Sosandar clothing online before the end of March 2024.

Sainsbury's fashion concepts stores also launched in October, stocking a range of Sosander products.

The online fashion retailer also reported strong performance on its own site during October and November, and is one of the top selling brands across all third-party partners including Next and M&S.

Co-chief executive officers at Sosandar, Ali Hall and Julie Lavington, said: "Over the past six months, we have made significant steps on our journey to become a multi-channel retailer whilst also expanding the reach of the Sosandar brand. We are delighted to have launched new partnerships with Sainsbury's and Freemans, signed our first agreements with two large prestigious international third-party partners and announced that we intend to open our first own stores in spring 2024.

"Our product remains the key driver of our success and keeps our customers returning to us for their wardrobe needs. Throughout the period, we saw growth across all product ranges with particular success in our summer occasion wear and beach and swim ranges over the summer. In the lead up to Christmas we have seen extremely strong sales across all categories with party wear, dresses, tailoring, knitwear and smart trousers being standout items.

"Trading in the second half of the financial year to date has been encouraging, in line with full year market expectations, with November a record month of trading. This strong performance has been delivered across all our channels.”

The firm has said that it expects to reach its strategic goal of delivering over £100m in revenue and a pre-tax from of at least 10% in the medium term.

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