Fast fashion retailer Quiz has launched plans for a £200 million listing on the London Stock Exchange.
The Glasgow-based womenswear specialist will use proceeds from the listing to accelerate growth and it will allow the company’s founders, including chief executive Tarak Ramzan, to cash out part of their holdings.
Quiz, which has 73 standalone stores and 167 concessions in the UK and Ireland, raked in revenues of £89.8 million last year on operating profit of £10.3 million.
The brand is also available in 19 countries via 70 international franchise stores and concessions.
If its IPO is successful, the retailer could emulate the likes of Boohoo and ASOS, whose shares have grown to the point that they are now worth £2.8 billion and £5 billion respectively.
“Quiz is a strong and distinctive omnichannel fashion brand with a clear customer and product focus,” Ramzan said.
“Fast fashion is in Quiz’s DNA and our ‘just in time’ model ensures that we are always responding in real time to new trends as they emerge.
“I am very confident that we have a well-invested infrastructure, a fantastic team and a clear strategy to accelerate further the growth of the Quiz brand across all channels and markets.”
The retailer is also proposing the appointment of JD Sports chief executive Peter Cowgill as non-executive chairman.