Sosandar (AIM:SOS) has just provided an update on trading for the 6 months ending 30 September and news of a placing – it’s a good idea to raise some dosh when the share price is flying high.
To set the scene…
Sosander arrived on AIM in November 2017, raising £5.3m at 15.1p per share, with the resulting market capitalisation on AIM admission £16.1m – not bad for start-up with insignificant revenues!
The business only launched in September 2016 and is the brainchild of former Look magazine editor Ali Hall and former Look and InStyle publishing director Julie Lavington. The Company is an online womenswear brand specifically targeted at a generation of women who have graduated from younger online and high street brands, and are looking for affordable clothing with a premium, trend-led aesthetic.
Revenues for year ending March 2017 were a modest £278,000 with the resulting loss £1.8m.
Fast forward 18 months and the Group has now reported revenues for the 6 month period…
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