// Seraphine is the latest retailer to announce plans to enter the stock market through an IPO
// The maternity retailer is known for being a favoured brand of the Duchess of Cambridge
Seraphine has confirmed plans to go public by entering the London stock market by way of an IPO.
The maternity and nursery wear retailer, of which its products are favoured by the Duchess of Cambridge, today announced the intended publication of a registration document by its holding company, Kensington Topco Ltd, which has been submitted for approval to the FCA.
Seraphine said it was is considering an initial public offering (IPO), and was considering applying for the admission of the shares to the premium listing segment of the official list of the FCA and to trading on the London Stock Exchange’s main market for listed securities.
READ MORE: Seraphine’s new owner to explore London IPO
Seraphine, which has spread to more than 120 countries since it was founded in 2002, said it was looking to list at least 25 per cent of its shares in the IPO.
“An IPO gives us the momentum to grow both our own digital platform and increase our customer reach by expanding our digital partnerships while building on existing strong fundamentals,” Seraphine chief executive David Williams said in a statement.
Seraphine’s financial performance has been strong, with sales growing at a CAGR of 22 per cent during the period from 2014 to this year, driven by the successful expansion into new markets and the rapid growth of the its ecommerce platform.
The retailer’s own digital platform revenue grew 44 per cent CAGR from 2019 to this year.
The online-focussed retailer said nearly half of its website traffic was from a targeted use of paid marketing channels including Facebook, Instagram and Google, and that approximately two-thirds of its most recent annual revenues were from outside of the UK.
“The announcement today represents an exciting opportunity to further Seraphine’s reach and continue to grow its presence and product offer in the highly resilient and under-competed maternity and nursing wear market, led by a seasoned retail and e-commerce executive team,” Seraphine chair Sharon Flood said.