Womenswear firm Sosandar signs homewares agreement with Next
Sosandar, the women’s fashion retailer, has signed a capex-free licensing agreement with Next for a homeware range.
The licensing agreement, which requires no capital expenditure for Sosandar, will see the two companies extend their pre-existing agreement to sell clothing.
Co-ceos Ali Hall and Julie Lavington said it was a “proud moment” for the Sosandar brand and a “testament to the strength of what we have built”.
The goods will be sold exclusively on Next’s website and rely on the retail giant for sourcing and Sosandar for design.
While its brick-and-mortar retail business has shrunk twenty per cent since the pandemic, it has adapted by successfully shifting from retail to online quicker than its competitors.
“This is a fantastic opportunity to leverage our brand equity and extend the success Sosandar has had through third party partnerships with little risk and no capital expenditure,” Hall and Lavington said.
“We will combine Next’s specialist technical and sourcing skills with our design aesthetic and understanding of Sosandar customers to deliver an exciting and unique product range. Importantly, the homeware range will broaden our reach into new audiences and enable existing customers to deepen their affinity to our brand,” the bosses added.
The Wilmslow-headquartered company, which has been selling womenswear online since it was founded in 2016, has announced three physical retail stores in the UK so far 2024.
Earlier this year the company said its revenue had grown by nine per cent to £46.3m in the 12 months ending March 30, 2024, up from £42.5m in the year before.
The company also improved its gross margin to 57.6 per cent during the 12 months from 56.2 per cent in its previous financial year.