Made.com considers public listing amid pandemic boom
Online retailer Made.com is said to be mulling an IPO after a bumper year of sales amid the pandemic.
The furniture specialist is in talks with banks about its options, which could include a public listing valuing the company at more than £500m, according to Sky News.
Morning Wire understands Made.com has not yet appointed a bank and other options could include an outright sale of the business.
The retailer has capitalised on the pandemic-induced shift to online shopping and cumulative sales since the business launched passed £1bn at the end of 2020.
In December the retailer announced plans to hand out share options worth more than £10,000 to its 650 staff. Chief executive Philippe Chainieux said: “There have been many challenges for the retail sector this year, but I am proud to say that thanks to the structure of our business and the tireless efforts of our people, we have emerged from the crisis in a very strong position.”
It comes amid a flurry of IPO activity in London with the busiest January for the City since 2006. Moonpig and Dr Martens are the latest firms to go public with Deliveroo and Darktrace also set for floats in the coming months.
A spokesperson for Made.com said: “The rapid acceleration in the shift to online shopping, with three to five years change in the past 12 months, meant that 2020 was extremely successful for MADE, despite the challenging environment.
“As we move into 2021, we are exploring the best way to ensure that the business has all the resources required to build on our momentum and seize this unique and pivotal moment of opportunity.”