Supergroup has announced its intention to raise £125m by floating on the London Stock Exchange.

The young fashion group which runs stores including Superdry and Cult Clothing is hoping its growth story both the UK and internationally will lure investors. It also plans to extend its product ranges particularly across womenswear and footwear.

The retailer currently has 40 UK stores, three outlets and 54 concessions in House of Fraser.

Supergroup chief executive Julian Dunkerton said: “We are delighted to announce our plans for a listing on the London Stock Exchange.  Supergroup is a highly profitable, fast growing business with significant potential for expansion in the UK and internationally. Our brands, particularly Superdry, have established a loyal customer following across the world founded on a reputation for providing innovative, premium quality clothing at affordable prices.

“Today’s news that we are intending to offer a retail component to our listing is a way of rewarding our dedicated, hard working staff and enabling both our customers and other members of the public to share in the future success of the business.”

Supergroup has brought in former Arsenal chief executive Keith Edelman as a senior independent non-executive director. Former DSGi ecommerce director Indira Thambiah and former Mothercare finance director Steven Glew have been appointed as non-executive directors while former WH Smith director Peter Bamford will be non-executive chairman as revealed by Retail Week.

The business will be hoping that there is appetite to invest in its growth story despite the failed sale of Matalan and shelved IPO for New Look last week.