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Joules names advisers for 150 million pound float

By Vivian Hendriksz


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British lifestyle brand Joules has named a team of advisers ahead of its impending stock market float.

The fashion retailer, best known for its colorful prints and wellingtons, has appointed stockbrokers Peel Hunt and Liberum to handle its initial public offering set to take place in April or May, reported the Sunday Telegraph. Previous reports suggested the apparel company to be valued at over 150 million pounds, which would see Joules owner, Tom Joule, benefit from a multi-million bonanza as he currently holds 80 percent of the company.

The remaining 20 percent of the company is owned by the private equity division of Lloyds Banking Group, which invested 22 million pounds in the retailer in 2013. Based in Market Harborough, Leicestershire, has grown from an equestrian label to a high street staple, with over 100 stores and products sold in department stores such as Debenhams and John Lewis.

london stock market
Tom Joule