Fashion brand Joules is said to be the latest retailer to consider an IPO after it hired Rothschild to explore options.

Joules, known for its country attire – particularly its patterned wellies, is mulling an IPO for early next year, The Sunday Times reported.

The 100-store retailer could be valued at £140m, which may result in a windfall of as much as £110m for Joules founder Tom Joule.

He bought the business from his father in 1999 when he began selling pink wellies at equestrian events. He opened his first store in Market Harborough 15 years ago.

This year retailers including ScS and DFS have launched on the stock market as prospects for the consumer environment improve.

Meanwhile there has been a flurry of ownership changes across fashion this year. Sir Philip Green sold BHS in March to Retail Acquisitions while footwear groups Kurt Geiger, Office and the Jones the Bootmaker and Brantano chains all changed hands in 2015.