pushes ahead with £1bn stock market float launches £1bn IPO
The pricing is expected to be confirmed soon.
// begins process to float on London’s main stock market
// The move could value it at £1bn
// Money raised from the IPO would also be used to invest in growth in’s existing markets has confirmed that it has started the process to float on London’s main stock market, in a move that could value the online furniture retailer at £1 billion.

It comes after grew by 30 per cent over the past year after raking in sales of £315 million thanks to locked-down customers freshening up their homes and repurposing rooms in order to work from home.

Earlier this year, it appointed JP Morgan, Morgan Stanley and Liberum to draw up plans for a potential initial public offering (IPO).

READ MORE: has now disclosed a “potential intention” to go ahead with an IPO which would raise primary proceeds of £100 million.

The pricing is expected to be confirmed soon. co-founders Brent Hoberman, Ning Li, Chloe Macintosh and Julien Callede are expected to share in a major payday once the IPO takes place.

The money raised from the IPO would also be used to invest in growth in’s existing markets, as well as “improve service through reduction of lead-times offered to customers, scale its homeware range and give the group increased working capital flexibility”. joins a fast-growing list of big-name retailers that recently announced plans to or have gone ahead and launched on the stock market after enjoying success during the Covid-19 pandemic.

These include The Hut Group, Moonpig, Dr Martens, In The Style,, The Very Group, MyTheresa, Poundland parent company Pepco, and most recently, Hotter Shoes. said it has ”consistently shown strong top line growth”, achieving 36 per cent gross sales compound annual growth rate over the last five years.

In the year to December 31, 2020, the retailer reported an adjusted EBITDA loss of £5.1 million despite recording the 30 per cent sales growth of £315 million.

” has been revolutionising the home and living sector for the last 11 years,” chief executive Philippe Chainieux said.

“Founded in the UK, it is now the leading digitally native lifestyle brand in a sector that is shifting steadily online.

“The business is powered by a technology platform that connects independent designers and makers, allowing us to develop our exclusive product offering.

”The business is fast growing and we have demonstrated the capacity of our brand and customer proposition to travel well.

“Around half of our sales are outside of the UK and we are aiming to be the leading home destination in Europe for the digital native.”

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