Fat Face preparing for London IPO

Fat Face, acquired by private equity group Bridgepoint in 2007, has selected Citi and Jefferies to work on a flotation that is anticipated in next few months, reported Sky News.

Analysts began expecting the listing of Fat Face after it presented better than expected figures during the pre-Christmas showdown where every retail fashion house were seen offering big discounts. Fat Face, in contrast, had stuck to its guns and resisted the temptation of offering price reductions, in turn strengthening the worth of its brand and toning up its price integrity.

The Company had reported 5 per cent increase in sales over the five weeks to January 4, while total sales grew by 15 per cent in the first half of its financial year to 98.9 million pounds. Its EBITDA increased by 57 per cent to 19.6 million pounds from 12.4 million pounds in 2012.

The possible listing would see Fat Face enter the IPO fray with other retailers like Appliances Online, House of Fraser, Pets at Home, Card Factory, Poundland, and B&M in 2014.

Fibre2fashion News Desk - India