Made.com Ltd, the designer furniture and homeware products group, has confirmed it is considering a listing on the premium segment of the London Stock Exchange.
The company said if the initial public offering (IPO) goes ahead, it would seek to raise around £100mln in new capital.
Whispers in the City indicate the IPO will be priced at a level that would value the company at around £1bn.
The money raised would enable it to accelerate its growth in existing markets, improve service through a reduction of lead times offered to customers, scale its homeware range and give the group increased working capital flexibility.
Founded in 2010, Made styles itself as “the leading digitally native lifestyle brand in home”. It sells its products across the UK, Germany, Switzerland, Austria, France, Belgium, Spain and the Netherlands via its e-commerce platform.
In the first quarter of this year, around 48% of gross sales were generated from orders outside of the UK.
Sales were up 63% on the preceding quarter, with the homeware division’s growth outstripping that of the furniture division.
From 2015, gross sales in the UK grew at a compound annualised growth rate (CAGR) of 28% from £48mln to £165mln in 2020. Sales in Continental Europe grew at a CAGR of 49% over the same period from £21mln to £150mln.
"Made.Com has been revolutionising the home and living sector for the last eleven years. 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,” said Philippe Chainieux, the chief executive of Made.
Philippe Chainieux joined the group in 2013, having previously been a big wheel at Match.com.
“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,” he added.