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UK DIY News Reportedly Considering An IPO

Made RUGISL001MUL-UK_Isola-Wool-Handtuft-Rug-Large-160x230cm.jpg

Sky News has reported that online furniture and homeware retailer is considering plans for a stock market flotation.

The report indicates that the etailer - which is backed by Brent Hoberman, a co-founder of - would be valued at more than £500m, while a person close to the situation reportedly indicated that a figure closer to £1bn might be achieved. is understood to be discussing strategic options with banks, and has not ruled out the sale of the complete business, or the sale of a stake to a new investor.

The company was founded in the UK in 2010 and has expanded to France; the Netherlands/Belgium; Germany/Austria; Switzerland, and Spain. has two UK showrooms; one in London and one in West Yorkshire.'s CEO Philippe Chainieux told The Guardian in December 2020 that had issued share options worth at least £10,000 to each of its 650 members of staff, after the company benefited from new shopping habits forged during the lockdown.

He said, "The business has faced a lot of uncertainties this year but it has been a positive one for us, and that’s really thanks to the contribution of staff. The people on the frontline in our stores, factories and warehouses. Without them we would not have been in a position to continue trading during the lockdowns.”'s sales were £212m in 2019, up 22% on the previous year, and are understood to have accelerated since.

A spokesperson told Sky News: "The rapid acceleration in the shift to online shopping, with three to five years change in the past 12 months, meant that 2020 was extremely successful for MADE, despite the challenging environment.

"As we move into 2021, we are exploring the best way to ensure that the business has all the resources required to build on our momentum and seize this unique moment of opportunity."

Source : Insight DIY Team

Image : - Isola Wool Handtuft Rug (Large)

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15 February 2021

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