Boohoo seeks a fashionable flotation


Click to follow
The Independent Online

Online clothing retailer is looking at listing on the London Stock Exchange as it seeks to emulate the success of its much bigger rival Asos.

The Manchester-based company is working with Zeus Capital, the private equity firm which is an investor in Boohoo, to explore its strategic options, including a possible sale of the fast-growing retailer. Zeus Capital advised on last month’s flotation of Conviviality Retail, owner of the Bargain Booze chain.

Boohoo, which was co-founded by its chief executive Mahmud Kamani seven years ago, sold £29m of cut-price dresses, hoodies and skirts over the year to February 2012, according to latest accounts.

The retailer competes with Asos, which floated at 20p in 2001 but is now valued at more than £4bn.