In The Style eyes £100m stock market float
In The Style, the celebrity-led online fashion retailer, is reported to have hired bankers from Liberum to advise on a £100m float of the business.
The business was founded in 2013 by entrepreneur Adam Frisby who initially sold a small selection of dresses bought from wholesalers. Frisby grew the brand through collaborations with reality TV stars from shows such as Geordie Shore and The Only Way is Essex.
In the year to March 2019 In The Style achieved sales of just over £17m (up £2.4m year on year) but made an operating loss of £1.6m (an improvement on the prior year's loss of £3.3m).
The company previously secured £5m in investment from Livingbridge Venture Capital in 2017, and £2.5m from Causeway Capital in 2018.
According to The Sunday Times, the business is eyeing a float in the first half of 2021. If it goes ahead it would join names such as ASOS, Boohoo, Sosandar and QUIZ on the Stock Exchange.