MandM Direct revealed it intends to list on the Stock Exchange and has ambitious plans to expand its no-nonsense discount fashion offer.
So as the retailer prepares for the big market flotation, here are some facts to get you up to speed:
- Founded in 1987 and built up as a discount fashion mail order business, 94% of MandM Direct’s sales now come from online. 90% of sales are of third party brands.
- MandM Direct runs six local currency sites - five of which are in local languages - to serve Germany, France, Austria, The Netherlands, Poland and Ireland. It also delivers to a further 18 markets where it doesn’t run country-specific website yet.
- The retailer prides itself on its nimble international roll-out model, which requires investment of less than £20,000 per new territory. Within two years of being in a new market it expects to have broken even on the investment.
- Thanks to a 54% growth in revenues from its international business in the year to February 2014, sales from overseas now account for 11% of the retailer’s total.
- To prepare for the post-IPO phase, a board of directors has been formed. To be chaired by former N Brown chief executive Alan White, it will include non-executive director Marisa Cassoni who also sits on the board of AO.com. MandM chief executive and former John Lewis online director Jonathan Brown will stay in his position.
- The retailer operates three own label brands, called DuFFs, Kangaroo Poo and Onfire.