Seraphine confirms share listing intentions
Mid-market maternity wear retailer Seraphine confirmed on Thursday that it’s considering listing its shares on the London Stock Exchange.
It’s thinking of an initial public offering (IPO) of at least 25% of its shares as it seeks to grow its online sales and widen its reach.
If the listing happens, it would come after an exceptionally busy period for the 19-year-old UK-based firm. It was sold by its founder for a £50 million price tag at the end of last year but there has been speculation that any listing valuation could be significantly higher that that figure.
“An IPO gives us the momentum to grow both our own digital platform and increase our customer reach by expanding our digital partnerships while building on existing strong fundamentals,” CEO David Williams said in a statement, although he gave no indication of what valuation the company is placing on the brand.
It’s owned by Mayfair Equity Partners (MEP), who acquired it from founder Cecile Reynaud in December.
The brand has been growing fast, helped by the publicity boost it received from royal patronage (the former Kate Middleton wore it during her pregnancies).
It’s currently available in over 100 countries with its focus on digital expansion having been key, although it does have stores in London, Paris and New York. The company benefits enormously from paid-for web traffic via sources such as Instagram, Facebook and Google, but also from word-of-mouth, press coverage, partnerships and more.
In fact, it has shown itself to be a savvy user of social media and is able to jump on trends quickly. That’s particularly important at a time when many women prefer to wear ‘regular’ clothes for as long as possible during their pregnancies and fight shy of making heavy investments in middle-to-premium-priced pieces.
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