Quiz is latest name to consider IPO say reports
Quiz Clothing looks like it could become the latest fast-growing UK fashion retailer to consider a listing on the stock exchange. The company has not confirmed this and has responded to a Fashion Network request for information by saying: “Quiz is a fast growing brand with a number of very exciting growth opportunities. We will always consider all options to deliver the brand’s full and exciting potential.”
Several reports suggested the Scotland-based chain, which was found by Tarak Ramzan, is speaking to advisors at Panmure Gordon about raising new capital that could see it launching an IPO.
Quiz focuses on womenswear and has 267 stores as well as its e-store. It saw its turnover reaching record levels last year. In the last quarter, its overall sales rose 19% but e-sales soared 75% and in its previous financial year it said omnichannel was key to its growth. It recently linked with model and blogger Felicity Hayward for a plus-size line.
The news of the possible listing comes after it emerged that e-tailer-turned-omnichannel-vendor Missguided might also be considering an IPO sometime next year or in 2019.
While neither of them have commented on the stories with any plans clearly not yet at an advanced stage, such a move would make sense for them given their rapid expansion and future growth prospects, plus the need to finance this growth both in the UK and abroad.
They each have the example of Asos and Boohoo to follow after those two businesses listed their shares on the stock market. Those shares are currently changing hands at massive multiples to their earnings and are trading at a higher level than their fashion sector peers. It seems investors view this new breed of internet or omnichannel fashion store much more sympathetically than more traditional chain-store names like M&S and Next.
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