Insaan Group _ Annual Reports INSAAN ANNUAL REPORT 2018 | Page 24

INSAAN PORTFOLIO: AFRICA

Soko products can be purchased globally online in 64 countries, in some 700 points of distribution and/or retail shops ranging from Nordstrom, Reformation and Anthropologie to Amazon, most recently. Its sales reached some $3.4 million at the end of 2018, showing an impressive growth rate, with an average of 58% product margins while artisans steadily benefit from an increase in Soko revenue totaling some $1.5 million in revenues distributed to artisans since 2014, and some $600,000 in 2018 alone.

Soko is currently closing its series A funding for $4.3 million, with a mix of equity and debt capital to enable its next stage of growth through digital brand marketing, management and technology for an enhanced brand experience.

In 2018, Soko became a BCorp, the only legal structure and certification that measures a company’s entire social and environmental impact – this is a testimony to the ethos of the company and the vision of its founders.

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