British lifestyle brand Joules has announced its intention to float on the London Stock Exchange’s junior Aim market and has appointed new directors to its board.
Former Dunelm and Boots finance director David Stead will become a senior independent non-executive director, while former John Lewis business and development director Jill Little will become independent non-executive director.
Joules plans to list in the second quarter of this year.
Joules said revenues rose 50.2% to £116.4m between its 2013 and 2015 financial years, driven by store roll-out, expanded ecommerce and increased wholesale sales.
It has opened an average of 12 stores each year in the UK over the last three years, and now has 98 in the UK and the Republic of Ireland. Joules plans to grow through new UK stores, ecommerce and international expansion, as well as by entering new categories.
Joules chief executive Colin Porter said: “Since the brand’s foundation more than 26 years ago, Joules has enjoyed strong, consistent growth developing into the much-loved fun, family, ‘time-off’ lifestyle brand it is today.
“We have a clear strategy to develop the brand further and we see real potential for continued growth across channels both in our core UK market and internationally.”