Wilmslow-based womenswear brand Sosandar has signed a lease for its third brick-and-mortar store.
The brand, which started as an online business, is expanding into a portfolio of outlets and has struck a deal for a site in Metrocentre, near Newcastle.
The store is expected to open in October, in time for the key Christmas period, and will continue with the opening of the first two Sosandar outlets in Chelmsford and Marlow in September.
Metrocentre is one of the UK’s five most convenient super regional shopping centres, located in Gateshead, just outside Newcastle.
14. 4 million people visited in 2023, an increase from last year. The Sosandar store will be located in the center of Metrocentre’s Platinum Mall, which is home to designer and high-end stores, alongside other highly sought-after brands such as Jo Malone, H Beauty by Harrods and Hobbs.
This is the third store Sosandar has signed this calendar year, with several others in the late stages of legal proceedings and other potential retail stores in a broader set of locations known and under review.
Ali Hall and Julie Lavington, Co-CEOs of Sosandar, said: “We are announcing the third location of our Sosandar stores.
“We have strict criteria for opening retail outlets in affluent and privileged locations where Sosandar consumers exceed the index, and Metrocentre ticks all those boxes.
“Metrocentre is renowned for hosting a flexible diversity of fashion stores and we look forward to the official opening of our store in the coming months. ” »
Last month, the company reported its results for the full year to March 31, 2024, which revealed total cash inflows of £46. 277 million, up from £42. 451 million last year, while a pre-tax loss of £332,000 compared to a pre-tax profit of £1,597 million. M.
In an April update this year, Sosandar forecast a profit of £46. 8 million and a pre-tax loss of £200,000, following a successful second half.
It welcomed a “substantial change” from a pre-tax loss of £800,000 in the first quarter of FY24 to a pre-tax loss of £200,000 in the first quarter of FY25.
Current market expectations for 2025 are a cash inflow of £54. 6 million and a pre-tax profit of £1 million.