The department store giant was preparing to reveal its flotation schedule as Retail Week went to press. Analysts expect it to be valued at£3 billion, including debt. It will be the biggest retail float since Carphone Warehouse debuted in 2000 for£1.7 billion.
Debenhams' move back to the market comes just two and a half years after it was taken private by a consortium comprising Texas Pacific Group, CVC Capital Partners and Merrill Lynch Private Equity for
£1.9 billion in December 2003.
However, the retailer - with its 18.6 per cent share of the department store market - could still be the target of rival private equity firms, with speculation that Alchemy Partners, Cinven and Apax Partners have shown an interest.
Debenhams management, consisting of chief executive Rob Templeman, chairman John Lovering and finance director Chris Woodhouse, will embark on an investor roadshow over the next two weeks and could float the business as early as May.
As part of its expansion strategy, Debenhams plans an international franchise roll-out for its fledgling Desire format and will confirm ambitions to create a 100-store UK chain.
The retailer also plans to double its 123 strong department store portfolio to 240 to up the ante against rivals Next and Marks & Spencer.
Retail Knowledge Bank senior partner Robert Clark said: 'Debenhams has overseas experience and franchising is working well for others like Mothercare.' However, he added that expanding both formats simultaneously is 'ambitious'.
'The management can go a long way to achieve it, but competition is tight and improving,' he said.
The retailer is to expand Designers at Debenhams this May, adding product categories to the range. It will also roll out the offer from designers such as Betty Jackson to more stores.
Debenhams broke the£2 billion sales mark last year.
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