UK’s Joules plans IPO
British men’s and women’s casual clothing and lifestyle retailer Joules is working with investment baking company Rothschild on a possible IPO, according to a news report by The Sunday Times.
The founder of the business, Tom Joule, could take the company public early next year, with Joules estimated to be worth over £140 million. Joule’s 80% stake was valued at £110 million.
Joules, which was founded in 1989 and hit a milestone earlier this year as it opened its 100th store in Ireland, is privately-owned. In 2012, it sold a minority stake to LDC, receiving a £22 million investment to support its expansion and increase its e-commerce activities.
The retailer sells clothing, footwear, accessories and home products inspired by the British country lifestyle. It recorded a revenue increase of 21% in the year to May 25, 2014, while own-store sales grew by 36%.
The brand is present in several locations across the UK, as well as in Germany and the USA.
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