Ethical e-tailer Adili.com to float on AIM market
- Published: 05 November 2007 10:22
- Author: Laura Weir
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- Last Updated: 05 November 2007 15:27
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_tcm12-217491.jpg "Adili plans AIM float")
Adili.com, the ethical online fashion retailer, is gearing up for flotation onto AIM, just a year after launching.
Adili.com - named after the the Swahili word for 'ethical' and 'just' - was launched in September last year by Asos.com joint founder Quentin Griffiths. The business intends to raise £1.75 million this month through a share placing, and expects to achieve market capitalisation of about £5.5m.
Last month several high profile retail executives including former Rubicon retail chief executive Peter Davies and former John lewis chief executive Luke Mayhew invested in the business. Former Miss Selfridge buying director Sim Scavazza is also creative director at the etailer.
As part of its ethos, Adili claims to be 'making fashion both stylish and ethical' and sells brands such as People Tree, Patagonia, Alchem1st and Terra Plana.
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