Celebrity Loved Fashion Brand Founded By Award-Winning Duo Has Been Admitted To Trading On AIM As Sosandar PLC(with TIDM "SOS")
Online women's fashion brand Sosandar has been acquired by Orogen plc, which has been renamed Sosandar plc and has been admitted to trading on the AIM market of the London Stock Exchange. Orogen acquired Thread 35 Limited (Sosandar's holding company) by way of a reverse takeover.
Sosandar's co-founders, award-winning former Editor of LOOK magazine Ali Hall and Publishing Director Julie Lavington, have become joint Chief Executive Officers of Sosandar plc, which raised £5.3m through a placing of new ordinary shares that will be used to finance the development and growth of Sosandar.
Since launching in September 2016, Sosandar has created excitement in the fashion industry amongst female celebrities and social media influencers, by quickly establishing itself as a one-stop online destination for a generation of style conscious women who have graduated from younger price-led online and high street brands. Co-founders Ali Hall and Julie Lavington identified a growing gap in the market, now worth an estimated £3.7 billion per year, of under-served women looking for affordable fashion-forward clothing with a premium, trend-led aesthetic. With its headquarters and studios in Wilmslow, Cheshire, the business sells entirely own label exclusive product created by an in-house design team.
Sosandar has been widely featured across fashion press, newspapers and TV as well as having extensive celebrity and fashion influencer endorsement. It has fast established a loyal and growing customer database, along with a rapidly increasing social media following. Brand engagement is enhanced by the use of magazine style content, providing customers with style and outfit inspiration. This combination of quality product and content has resulted in consistent growth in sales. The business is supported by an established supplier base and a first in class logistics operation ensuring scalable growth whilst maintaining the best possible customer experience.
Ali Hall Co-Founder and CEO commented: "Sosandar has truly resonated with a new generation of fashion conscious women looking for chic, trend led, qualitybut affordable clothes.The Sosandar team are very excited by the opportunities ahead to bring the Sosandar brand to women, both in the UK and internationally."
Julie Lavington Co-Founder and CEO added: "Today's announcement coupled with this significant investment heralds a very exciting time for the brand. Sosandar PLC intends to expand its market share in the already large and successful, yet still growing online fashion market. Investment will be used to further extend the product range and develop brand awareness amongst potential customers in both the UK and overseas."
Adam Reynolds, Chairman of Orogen PLC, said: "I am delighted about this transaction. Sosandar is operating in a market that is showing growth and it has a highly motivated and experienced management team. With added balance sheet strength I believe we will be able to accelerate this growth opportunity, benefitingall shareholders in the company."
Bill Murray, the current chairman of Thread 35 Limited, will become Non-executive Chairman of Sosandar plc.
Note to Editors:
Sosandar 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 award-winning duo have created a new online womenswear destination that fuses a fashion-forward clothing line with style inspiration, news and advice.
With more than 40 years of combined fashion media insight, Hall and Lavington have spent their careers speaking to thousands of women about what they want from their clothes, and Sosandar will satisfy those needs. Both women live and breathe Sosandar, resulting in a brand that delivers instantly wearable pieces that truly reflect the seasons and make women feel sexy, chic and feminine.
Ali Hall and Julie Lavington launched LOOK in 2007 and immediately established it as leading fashion magazine in the UK. Hall was awarded Editor of the Year by the British Society of Magazine Editors and Lavington was named Consumer Magazines Publisher of the Year by the Periodical Publishers Association.
During their tenure at LOOK, Hall and Lavington pioneered the idea of collaborating with key retailers to create exclusive branded clothing and capsule collections. Together Hall and Lavington have pooled their instinctive understanding of what fashion-loving consumers desire, from editorial through to product.
Since its launch Sosandar has established a strong media following with its fashion pieces regularly being worn by celebrities and TV presenters as well as an exciting social media presence, helping the brand to maintain a profile amongst its target customers and continue to build brand awareness.