Fragrance Shop owner considering £200m IPO

The Manchester-based entrepreneur behind The Fragrance Shop is weighing up a possible £200m stock market float.

The chain owned by Sanjay Vadera is in talks with investment bank Rothschild over a possible stock market listing, according to Sky News.

Reports suggest city advisers have been asked to bid for work on an initial public offering.

However, The Fragrance Shop – its 215 shops making it the UK’s largest independent perfume retailer – is unlikely to float, if at all, until 2019.

The news has broken at a time of unprecedented turmoil for the high street with Toys R Us, Maplin and New Look all falling victim.

A spokesman for The Fragrance Shop said: “Following strong year-on-year growth and positive Christmas 2017 trading figures, the business is exploring a number of strategic expansion opportunities available that will enable us to build on our success and continue to trade strongly within a challenging retail market.

“At this stage no definitive decisions have been made with regards what that will look like.

“As a family-run business, we are excited to continue our mission to be first for fragrance with this firmly at the heart of everything we do.”