Blue Inc eyes IPO after chairman steps down

Men and women fashion chain Blue Inc is reportedly looking to join the latest fashion amongst British

retailers and float on the London Stock Exchange.

As broke by ‘The Telegraph’, Blue Inc would join the likes of Boohoo.com or Asos any time soon and launch an initial public offering (IPO) on the London bourse. The journal also reported the exit of current chairman, Sir Stuart Rose, who would be replaced by Richard Rose, who leads on AO.com.

According to market insiders, the company would be valued at circa 60 million pounds.

Blue Inc would have hired Cantor Fitzgerald to advise on the IPO, advanced the journal. As reported in February, Blue Inc. has received the interest of various equity firms, although the board's preference is to go public.

Since 2006, Blue Inc is under the rule of Steven Cohen and his group of investors, who bought the apparel retailer from the Levy family.

The company, founded the company in 1912, generated a turnover of 120 million pounds in 2013.