Made.com confirms plans for blockbuster London float

Online furniture retailer Made.com has announced its intention to float on the London Stock Exchange.

There have been rumours about the pureplay, which was co-founded by entrepreneur Brent Hoberman, making the move since February, but it has thus far declined to press the button.

An IPO will see some existing investors sell shares but also raise new money, and could value the business at anything up to £1 billion.

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Money raised would go towards developing growth in existing markets, improving service through reduction of lead times offered to customers, scaling Made’s homeware range and giving it increased working capital flexibility.

Made was founded in 2010 and launched its first website in the UK that year.

It has gradually expanded its product offering, starting with upholstery, then furniture and more recently homewares and lifestyle categories.

The venture also commenced international expansion by launching its French website in January 2013, followed by websites for a number of other European markets from 2013 to 2018, with Spain being the latest market that it entered in 2018.

Philippe Chainieux, CEO at Made, says: “We have been revolutionising the home and living sector for the last 11 years.”

“Founded in the UK, we are now the leading digitally native lifestyle brand in a sector that is shifting steadily online. The business is powered by a technology platform that connects independent designers and makers, allowing us to develop our exclusive product offering.”

He adds: “The business is fast growing and we have demonstrated the capacity of our brand and customer proposition to travel well. Around half of our sales are outside of the UK and we are aiming to be the leading home destination in Europe for the digital native.”