In The Style plans £100m stock market listing
Online fashion retailer In The Style is planning a £100 million stock market listing. The six-year-old digital retailer has hired independent investment bank Liberum to investigate its options, ideally targeting a flotation on the AIM market early next year.
Larger peers Asos and Boohoo are both listed on AIM (the Alternative Investment Market) and have seen huge success since they listed there.
In The Style, which links with reality TV celebrities and online influencers to create, model and market its fast-fashion offer, is hoping to take advantage of the accelerating boom in online shopping boosted by shop-at-home consumers in lockdown.
The company, which claims 2.7 million Instagram followers, has worked with celebrities including The Only Way Is Essex’s Gemma Collins, Love Island’s Dani Dyer, Geordie Shore’s Charlotte Crosby and Towie’s Billie Faiers. However, it has been expanding its ranges to capture a wider demographic. That, and lockdown shopping, has resulted in a doubling in half-year revenues and the company tipping into profit.
In The Style’s latest accounts filed at Companies House, showed a £1.5 million pre-tax loss on sales of £17 million in the year ended March 2019.
According to the Times newspaper, the proposed flotation could be an opportunity for Irish investor Causeway Capital to exit In The Style, which is reported to have paid £2.5 million in 2018 to take a controlling interest. The report said Causeway is understood to have bought out Livingbridge Venture Capital, which paid £5 million for the stake just a year before in a deal valuing In The Style at £50 million.
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