Blue Inc is eyeing entry onto Aim before the summer as the retailer looks to use the proceeds to “supercharge” its growth.
The young fashion retailer, which this week appointed Ao.com chairman Richard Rose as chairman as current incumbent Sir Stuart Rose stepped down, has hired Cantor Fitzgerald as its adviser.
Blue Inc chief executive Steven Cohen said of its plans: “We’ll reinvest to supercharge growth over the next three to five years.”
Cohen, who has grown the business from 28 to over 240 stores over the past eight years, sees the potential for up to 500 stores in the UK.
He said: “We have a quite unique business with a great niche in serving value, fashionable clothing to under 25s. It is very scalable.”
Cohen said that he would invest in refitting Blue Inc stores and driving online growth. It is also set to invest in international growth and its supply chain.
The retailer has also hired Cavendish Corporate Finance senior partner Lord Howard Leigh to its board.
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Menswear retailer Blue Inc is today closing almost a third of its stores in a bid to restructure the business for “profitable growth”.
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