The rapidly growing fashion website Boohoo.com is expected to unveil huge sales growth this week as it prepares the business for a stock market listing.
The business is expected to say sales in the year to February 2013 more than doubled to over £60 million. This current financial year has also seen exceptionally strong growth, it is understood.
The company, advised by Zeus Capital, has valued itself at £500 million and hopes to sell shares on the stock exchange in the first quarter of this year.
It has billed itself as an 'Asos Mark II' and aims to emulate the young fashion business which expects to hit £1 billion sales next year and is worth over £4 billion.
However, Boohoo advisers are arguing that it is potentially more profitable that Asos because it only sells own brand product.
Yesterday we revealed the business is recruiting heavily as part of a plan to grow overseas. It is targeting German, French and Spanish foreign speakers across e-commerce, marketing and PR functions to work at its Manchester head office.
For more on Boohoo, see our Online Retail Stars of 2013 Report: Boohoo.com.
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