Good morning,

Thanks for the comments, I'm planning to cover at least the following:

Will then assess what to cover after that, possibly Marlowe (LON:MRL).



Sosandar (LON:SOS)

  • Share price: 18.4p (-3%)
  • No. of shares: 107 million
  • Market cap: £20 million

Trading Update

This is an online womenswear brand which recently (last month) reversed into a shell on AIM. Adam Reynolds, who has been involved in similar deals to bring shells back to life, was Chair of the shell prior to the deal.

There are some great comments on this in the thread below, including one by Paul. So on the basis that Stockopedia is a "hive mind" of sorts, producing far more intelligence than any one individual could ever produce, I strongly recommend that you check out the comment thread!

Today's update is brief:

Sosandar plc (AIM: SOS.L), the online women's fashion retailer, is pleased to announce that trading since 31 August 2017 to the end of November has exceeded management expectations.  The new funds raised at the time of the reverse takeover on 2 November 2017 are enabling the business to acquire larger and wider ranges of product and has also enabled the business to accelerate its media and marketing activities.  Investment in new marketing channels has yielded strong results and will be further expanded in order to drive new customer acquisition.

I've taken a quick look at the Admission Document on the company's website. Sales for the five months ended August 2017 were c. £240k with cost of sales £123k.

Given how early-stage it is, this is almost purely a bet on the management team. The joint-CEOs are the founder and former editor of Look magazine. You can imagine how their experiences at Look might be very helpful and give them a fresh approach to online retail.

It's a bit too early-stage for my portfolio, but it's probably worth taking a look at this for anyone interested in ASOS (LON:ASC), Boohoo.Com (LON:BOO), etc, as another competitor in the space.


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