Lancashire-based fashion retailer Footasylum has confirmed plans to float on the London Stock Exchange to pursue further growth.
The directors believe that this will allow the company to “source fresh and relevant products, cater for differing regional trends, and build brand loyalty amongst its target audience.”
Footasylum has 60 stored in the UK in high street, mall and retail park locations. The company also has a fast-growing eCommerce platform and a recently launched wholesale arm for distributing its own brand ranges via a network of partners.
Admission to AIM is expected to take place next month.
Executive chairman John Wardle, who co-founded the business in 2005, will retire from the role, and Barry Bown, served as chief executive of JD Sports from 2000 to 2014, will take over next year.
Clare Nesbitt, chief executive of Footasylum, said: “We are thrilled to be announcing our intention to list on AIM.
“This is a logical next step in Footasylum's upward trajectory as we seek to build on our exciting product-led, multi-channel expansion strategy. We pride ourselves on being a dynamic, adaptive and fast-moving business with a strong competitive position, a great stable of third party and own brands, and a disciplined approach to delivering sustainable growth.
“We see substantial opportunities ahead across our retail, online and wholesales channels, and believe that we have the people, products and strategy to realise them.”
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