Online furniture retailer听Made.com听has confirmed plans to float on the London Stock Exchange this month.听
The London-headquartered company, which is yet to set a price for the float,听will join the听main market for listed securities.听
Co-founded by entrepreneur Brent听Hoberman, founder of Lastminute.com, in 2010, the business intends to raise 拢100 million in an IPO which will see some existing investors sell shares.听
According to The Guardian, around 600 staff will be able to sell shares worth more than 5% of the company, or 拢50m.听
The firm听saw a听30% increase in sales last year听to 拢315m, but听made a听loss of just over 拢5m. In the first three months of 2021, sales rose 63%.听
Made.com has expanded its product offering听to include听homewares and lifestyle, with more听categories听in the pipeline.听听
As well as the UK site, it operates听in听seven听markets in mainland Europe including France and Spain.听It plans to launch in further territories.听
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“I am pleased to announce our confirmed intention to list here in London, where MADE was born,鈥� said CEO Philippe听Chainieux.听
鈥淥ver the last听11听years, MADE has been revolutionising the home and living sector by providing our customers across Europe with a curated range of high-quality, responsibly made, affordable products, underpinned by exclusive designs.听
鈥淭he business is fast growing, with a proven brand and customer proposition that travels well. We are excited to embark on our next chapter as we act on the huge opportunity for growth and deliver on our vision to become the leading home-lifestyle destination in Europe for the digital native.”听