Fast fashion retailer Quiz has unveiled plans for a stock market listing on AIM next month to fuel its rapid expansion.
The fashion retailer, which was reported to be eyeing a £200m float earlier this year, has confirmed its intention to list on AIM next month.
The retailer has appointed brokers Panmure Gordon to handle the listing, and capital raised will fuel the retailer’s bricks-and-mortar and online expansion, as well as allowing the founding family to cash in on its initial investment.
Upon its listing next month, Quiz will also appoint JD Sports executive chairman Peter Cowgill as non-executive chairman.
The fashion retailer plans to open 20 UK stores and concessions respectively over the next two years, as well as expand its bricks-and-mortar presence in the US, Spain and Central America.
The retailer currently operates 73 standalone stores and 167 concessions across the UK and Republic of Ireland.
Managing director Tarak Ramzan said: “We are delighted to announce the group’s intention to float on AIM and we are confident that this will help enable the brand to achieve its exciting global potential.
“I am very confident that we have a well-invested infrastructure, a fantastic team and a clear strategy to accelerate further the growth of the Quiz brand across all channels and markets.”
Cowgill added: “I am delighted to be joining Quiz at this exciting time. Quiz is a dynamic company with a fantastic product offering and proven routes to market.
“The Group is ideally placed to capitalise on a wide range of growth opportunities, particularly online, where the brand has experienced very strong growth.”