Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Joules valued at £140m ahead of float

British fashion retailer Joules has been valued at £140m as it prepares to float on the London Stock Exchange’s junior Aim market, with the first day of trading expected to be May 31.

Joules

 

Joules said it hoped to raise £77.5m through the public floatation, with the placing price set at 160p per share. Part of the money has been earmarked to expand on the business’s current store portfolio of more than 100. It hopes to add between 10 and 12 shops per year for the foreseeable future.

The public listing follows a period of impressive growth for the brand. UK annual revenues have increased by 44%, to £105.8m, in the past two financial years. International revenues have grown by 198% to £10.6m.

Owner Tom Joules, who founded the company in 1989, is set to make £60m through selling the majority of his shares. The public listing of the business will see his total stake reduced from 80% to 32%.

Joules chief executive Colin Porter said the news marked an “exciting new phase” in the company’s development as a premium lifestyle brand.

“Joules is a much loved brand with a rare heritage and we are delighted with the strong response to the placing, reflecting investors’ recognition of the significant further opportunities for the group both in the UK and internationally,” he added.

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.