Serial fashion investor snaps up Sosandar shares
An investor who frequently buys shares in fashion companies has taken a 3.5% stake in fast-growing womenswear company Sosandar as the firm issued new shares to raise funding to further accelerate its growth.
Liverpool-based Bill Currie has acquired the stake alongside his investment firm William Currie Investments. The move comes just a few months after the investment company bought a 4%+ stake in another fashion brand, In The Style.
He also formerly invested in big names Boohoo, ASOS and THG.
Sosandar has been growing fast in recent years and said earlier this month that it wanted to raise around £4 million to support its ambitious expansion plans. It intended to use the net proceeds “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 had only recently announced the Sainsbury’s deal that would result in its first move into physical stores. That news had sent its share price up sharply, making it a good time for the company to issue new shares.
The firm’s share price is up almost 20% in just the last month.
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