SuperGroup, the firm behind the Superdry streetwear fashion label, is hoping to make its stock market debut with a 125 million pounds (196 million dollars) flotation.
The company said it will launch institutional and retail share offers to support expansion plans for its domestic, overseas and internet businesses. Founders and management are also expected to benefit from windfalls.
The group, whose designs have been worn by celebrities including David Beckham and Leonardo DiCaprio, currently has 40 standalone stores in Britain and 54 concessions in House of Fraser. Its Superdry brand is also sold in more than 30 countries.
The debt-free business is one of the fastest growing British youth fashion retailers, posting a 91.4 per cent hike in sales for the 26 weeks to November 1, 2009. It also enjoyed a strong Christmas with like-for-like sales growth of 29 per cent in the five weeks to January 3 in which total sales rose 95 per cent to 119 million pounds, the company said.
Following the flotation, SuperGroup says it wants to roll out new stores in Britian and overseas in the Far East, the Middle East and South Africa. The flotation plans come after fashion firm New Look last week pulled the plug on its stock market listing, citing turbulent equity markets.
|
|
|
|
