Joules founder to pocket £40m from AIM flotation
Joules, the Market Harborough clothes retailer, has announced plans to float on London’s AIM market.
The move would value the business at around £140m and would see founder Tom Joule bag around £40m.
The firm, which was established in 1989, says it expects to be admitted to AIM in Q2 of 2016.
Group revenues increased 50.2 per cent to £116.4m between FY13 and FY15.
Colin Porter, CEO of Joules, said: “Joules is a distinctive, established and fast-growing lifestyle brand and we are delighted to announce our intention to list on AIM as an exciting new phase in the brand’s development.
“Joules has a rare heritage and a strong presence across clothing and lifestyle product categories.
“Since the brand’s foundation more than 26 years ago, Joules has enjoyed strong, consistent growth developing into the much-loved fun, family, ‘time-off’ lifestyle brand it is today.
“We have a clear strategy to develop the brand further and we see real potential for continued growth across channels both in our core UK market and internationally.”