Online furnishings seller Made.com is planning to raise £100m via a stock listing expected to value the company at more than £1bn, The Guardian reports.
It comes after the British company, co-founded by Lastminute.com entrepreneur Brent Hoberman in 2010, saw sales increase by around 30 per cent to £315m last year, but made a loss of just over £5m. Sales growth rose again by 63 per cent in the first three months of 2021.
The listing will allow about 600 staff including senior managers to sell shares worth more than 5 per cent of the company, or £50m.
The money raised will be used to drive the furniture group’s growth across mainland Europe and expand its range of smaller homewares such as textiles and ceramics.
Philippe Chainieux, Chief Executive, said: “Today we are at the inflection point [for furnishings] seen in other categories like fashion and electronics. Now is the right time to accelerate and raise the profile of the brand especially in Germany and France.”
“The status of the home is changing,” he added. “People will continue to spend on their home and more disposable income will be allocated to that.”
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