Fast fashion retailer Quiz has announced the appointment of Peter Cowgill as non-executive chairman as it prepares for a £200m AIM market listing. Based in Glasgow, Quiz grew its online sales by 118 per cent last year to clock up sales of £87.4 million and an increase in its pre-tax profits of 17 per cent to £5.7 million.
The business focuses on a “test and repeat” supply chain which allows it to very quickly replicate top sellers whilst demand is strong. By specialising in evening and occasion wear for women between the ages of 16-35, it has proved to be very popular with “clubbers” who like its keen pricing and flow of new styles. In addition to its UK operations, the company also has retail stores in 20 overseas countries where it sees massive ongoing potential.
Proceeds from the listing will be used to accelerate growth as well as allow the company’s founders Tarak Ramzan and his family to partially cash out of the business.
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