My-wardrobe eyes City stock market flotation

My-wardrobe eyes City stock market flotation

Online fashion retailer is in talks about plans to float, it is understood.

The online retailer of 180 designer brands has not yet appointed a broker to advise on getting a London listing. But analysts said that a potential listing, most likely to be on the Aim market, could raise as much as £50m.

My-wardrobe joins a growing list of online retail rivals mulling a company flotation in 2014, including value fashion retailer and The Hut Group.

It is thought my-wardrobe’s listing would be priced at a significant discount to online rival Asos, which has been the darling of the market. Asos shares trade at a price-earnings ratio of about 75 times, while its equity value is around four times sales. Applying such a valuation to my-wardrobe would likely raise £50m.

According to the most recent figures, for the full year to June 2011, my-wardrobe’s revenues rose by 75pc year-on-year, to almost £13m, aided by its expansion into international markets, but it recorded a net loss of £3.8m.

The “everyday luxury” company was founded by Sarah and Andrew Curran in 2006 after they sold their house to fund it. The couple have since divorced and Mrs Curran announced in July that she was parting ways with the company. More than 900,000 shoppers a month visit the site to view collections including Mulberry and Tom Ford.

My-wardrobe declined to comment.

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