Sosandar names interim non-executive chairman
Fast-growing womenswear retailer Sosandar has announced the appointment of Nick Mustoe as its interim noneExecutive chairman. Mustoe takes on the temporary post following the sudden death of its non-executive chairman Bill Murray in February.
Mustoe takes up the role alongside his current non-executive duties with immediate effect until a permanent Chairman is appointed.
He said of his new role: “While it is in incredibly sad circumstances that I take this role, as Bill was a fantastic chairman and has left a lasting legacy to the business, I am proud to have been appointed. I look forward to working with Ali, Julie, Steve and the rest of the board as the group continues to move forward on its journey to become one of the largest womenswear brands globally.”
The company sells through its own webstore and has online brand partnerships with Next, John Lewis, Marks & Spencer, The Very Group, JD Williams. Recently it signed a deal to sell in a few Sainsbury’s stores. It also launched a £4 million share placing last month to support its ambitious expansion plans.
Sosandar said the additional funding is “to capitalise on the opportunities in its markets and accelerate its future growth”. The net proceeds will “primarily 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”.
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