It's official! UK retailer Made.com is set for London flotation

Online furniture retailer Made.com has confirmed 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 had thus far declined to press the button.

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

According to a press release issued this morning, Made “intends to apply for admission of its 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.”

It adds: “The final offer price in respect of the offer will be determined following a book-building process, with admission currently expected to occur in June 2021.”

Oh Monday, we meet again pic.twitter.com/HK5iZNo0tk
— MADE.COM (@madedotcom) August 19, 2019

Philippe Chainieux, CEO at Made, says: "I am pleased to announce our confirmed intention to list here in London, where Made was born.”

“Over the last 11 years, we have been revolutionising the home and living sector by providing our customers across Europe with a curated range of high quality, responsibly made, affordable products, underpinned by exclusive designs.”

“The business is fast growing, with a proven brand and customer proposition that travels well.”

“We are excited to embark on our next chapter as we act on the huge opportunity for growth and deliver on our vision to become the leading home lifestyle destination in Europe for the digital native."

Money raised will 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.