Sosandar to raise £4m to expand range after Sainsbury’s tie up

Cheshire-based fashion label Sosandar is looking to secure £4 million in funding after recently signing a major deal with grocery giant Sainsbury’s.

The company issued a statement to the London Stock Exchange (LSE) saying it intends to use the net proceeds of the funding to “primarily to accelerate the execution of its omnichannel strategy through further investment in stock, enabling increased provision of Sosandar’s product range in-store with third party partners including Sainsbury’s from autumn winter 2023 onwards”.

It said that the net proceeds will also create “further balance sheet headroom to fast track other growth initiatives as well as enable accelerated investment in the company’s proven customer acquisition model”.

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After the deal was announced with Sainsbury’s last month, shares in the fashion firm soared.

The two companies entered into an agreement to sell a curated collection of its products through the UK’s second largest grocer.

Sosandar will begin selling a selected range through Sainsbury’s during the course of the year, initially launching online only with a few selected stores planned later on in the year.

The fashion brand has similar deals with the likes of John Lewis, Marks and Spencer, Next, The Very Group and JD Williams.



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