Feb 20, 2023

February 20, 2023 - Advertisement - Online fashion retailer Sosandar received a vote of confidence after rag merchant veteran Bill Curry backed the company. Curry, 61, is a former Star City analyst who made a name for himself as an early sponsor of online retailers including Asos, Boohoo and THG. - Advertisement - He bought a stake in Sosandar last year and took part in a recent fundraiser. Curry and his family investment company currently own a 3.5 per cent stake worth around £2m in the £58m firm. - Advertisement - “We’ve known this company for several years,” Curry said. “But we started buying much more last year as soon as we saw the path to profitability. “I think they get the first rule of retail right: know your customer.” Sosandar was founded in 2016 by Ali Hall and Julie Lavington, who spent ten years at Look magazine. They founded the firm after they heard everyday women say they couldn’t find chic and feminine clothes. The couple posted it on AIM in 2017. HOW MONEY CAN HELP How to choose the best (and cheapest) Isa stocks and units and the right platform for self-investment Although sales fell during the pandemic, the company has recorded profits over the past five quarters. Revenue rose 30% in the three months to December. He has signed online partnerships with Next, John Lewis and Marks & Spencer, and through an agreement with Sainsbury’s, his clothes will hit stores for the first time this year. The company aimed to raise at least £4 million through fundraising, but huge demand meant it received £5.4 million. DIY INVESTMENT PLATFORMS