Digital maternity and nursing wear brand Seraphine is considering an initial public offering (IPO). The company said in a statement that the group is considering applying for the admission of the shares to the premium listing segment of the official list of the FCA and to trading on the London Stock Exchange’s main market for listed securities.
Commenting on the IPO plans, David N Williams, CEO of Seraphine, said: “The announcement of our expected intention to float reflects the hard work and dedication of the team and the strength of our brand. An IPO gives us the momentum to grow both our own digital platform and increase our customer reach by expanding our digital partnerships while building on existing strong fundamentals.”
Seraphine Group was founded in 2002. The company’s range includes innovative and functional maternity and nursing products at an affordable premium price point. The Group has over 18 years’ experience designing and developing maternity and nursing wear for women from first trimester to post-partum.
Seraphine has a track record of strong financial performance, with sales growing at a CAGR of 22 percent during the period from FY14 to FY21 driven by the successful expansion into new geographies and the rapid growth of the group’s own digital platform. The company’s own digital platform revenue has grown at a 44 percent CAGR from FY19 to FY21.
The group currently exports products to customers in over 120 countries globally. The company’s approximately two-thirds of its FY21 revenues were outside of the UK and the group’s current geographic footprint, in terms of total revenue is 29 percent North America, 26 percent UK and 40 percent Western Europe.
“The announcement today represents an exciting opportunity to further Seraphine’s reach and continue to grow its presence and product offer in the highly resilient and under-competed maternity and nursing wear market, led by a seasoned retail and e-commerce executive team,” added Sharon Flood, Chair of Seraphine.