Made.com plans to float in move reportedly set to value group at £1bn
Online furniture seller Made.com has confirmed plans to float on London’s stock market in a move set to value the group at a reported £1 billion.
Made.com – co-founded by Lastminute.com entrepreneur Brent Hoberman – is aiming to raise £100 million of new money in the initial public offering (IPO), which it plans to invest in marketing, growth across Europe and to boost its homewares range.
The firm said gross sales jumped 30% higher to £315 million in 2020, with growth accelerating further in the first quarter of 2021 to 63% year-on-year.
Made.com was founded in the UK in 2010 and since 2013, it has expanded across Europe, with Spain the most recent new market it entered in 2018.
Around 52% of gross sales came from the UK market in the first three months of 2021,with the remainder from Continental Europe.
Made chief executive Philippe Chainieux said the firm is “now the leading digitally native lifestyle brand in a sector that is shifting steadily online”.
He added: “The business is fast-growing and we have demonstrated the capacity of our brand and customer proposition to travel well.
“Around half of our sales are outside of the UK and we are aiming to be the leading home destination in Europe for the digital native.”