Online fashion specialist In The Style is mulling a flotation that could value it at approximately £100m.
In The Style has appointed investment bank Liberum to look at options and the preferred route would be a listing on AIM, The Sunday Times reported.
In The Style, founded by entrepreneur Adam Frisby, aims to sell customers celebrity looks at keen prices. It has become well-known through collaborations with reality TV stars associated with shows such as Love Island and Geordie Shore.
Frisby left school at 15 without taking his GCSEs and founded In The Style from his bedroom six years ago. The business has grown rapidly, benefiting in recent months from the switch to online shopping that has accompanied the coronavirus outbreak.
Sales have reportedly doubled in the first half of this year, enabling In The Style to move into the black. In its last reported financial year, to the end of March 2019, In The Style made a pre-tax loss of £1.5m on sales of £17m.
An IPO might provide an exit route for Causeway Capital, which took a controlling stake in the etailer in 2018. Causeway bought out former shareholder Livingbridge Venture Capital, which had acquired a stake a year before that valued In The Style at £50m.
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