Made.com aims for unicorn status with London IPO

Made.com is set to announce its upcoming initial public offering (IPO) in London after pandemic drove sales.

The online furniture retailer will see some of its investors sell shares but hope its upcoming IPO will generate funds to value the company at £1 billion for the first time.

A holding company was established for Made last month, with the company’s co-founder Li Ning and former John Lewis executive Susanne Given as chair.

The £1 billion float will follow the debuts of other ecommerce brands such as Virgin Wines, card manufacturer Moonpig and Music Magpie, which listed on London’s junior AIM market last month.

Shares in Virgin Wines and Moonpig are ahead of their IPO prices after successful years due to the pandemic driving commerce online.

READ MORE: MusicMagpie officially goes public launching its £208m IPO on AIM

“Every single shopping experience begins online and ends online. Stores are part of the digital experience but not the start or end of it,” Made.com chief executive Phillippe Chainieux told the Financial Times when speaking about the company’s limited number of showrooms.

Made.com also vowed to keep to its vertical integration model instead of adopting wholesale or concession.

“We are vertically integrated, there is no one in between us and the factory or us and the consumer,” Chainieux added.

When speaking about the company’s increase in businesses in the last year he said: “The last 12 months have been an inflection point.

“We now have a broader customer base both geographically and demographically.”

The company is seeking to take advantage of its pandemic fortunes by expanding its logistics network with a new distribution centre in Essex that will deliberately avoid post-Brexit duties by importing products for the European market separately to those being imported for UK consumers.

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