Online designer fashion site My-Wardrobe.com is pondering a stock market float just months after founder Sarah Curran announced her departure.
An article in the Daily Telegraph sourced 'analysts' saying the site might be worth as much as £50 million, around four times its revenue in the year to June 2011.
The e-commerce retailer, which has not yet appointed brokers to advise on the sale, the newspaper said, sells 180 designer brands including McQ Alexander McQueen and Burberry Brit. Fashion retailer Boohoo, AO.com and The Hut are among other online retailers understood to be seeking a sale or a refinancing over the coming months.
My-Wardrobe has declined to comment, the Telegraph said. It is equally likely that the firm would like to raise more cash off the stock market and may be considering an outright sale if one or more investors have lost their appetite.
The article reports that My-Wardrobe stocks Tom Ford and Mulberry, although there are no Mulberry products on the site, according to its own search facility, and the only Tom Ford product is a £259 pair of Brown Bardot Cat Eye Acetate Sunglasses. It does not sell Gucci.
The Telegraph describes its offer as 'everyday luxury'.
According to the most recent figures available at Companies House, My-Wardrobe parent company Meemi Ltd increased revenues from selling fashion online by 23 per cent year-on-year to almost £15.6 million in the 12 months to June 2012. It recorded a pre-tax loss of £4.9 million, 29 per cent more than the previous year.
It has not filed accounts since and has nine months to do so from its year end.
Documents also indicate the firm employs 102 people and is 26.7 per cent owned by Balderton Capital, whose other interests include The Hut. Founder Sarah Curran owns 16.1 per cent and Andrew Curran owns 12.6 per cent.
But the firm has been through a number of changes in the past year after appointing chief executive David Worby from Harrods a year ago. In July Sarah Curran announced her departure and the company has undertaken at least two rounds of fundraising since last September amounting to around £2 million.
The Currans, since divorced, sold their house in 2006 to fund the business.
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