Justin King joins Itim Group board as firm looks to float in London

UK-based omnichannel retail software solutions venture Itim Group has announced its intention to float on London’s AIM market.

The company, which helps retailers improve financial and operational performance, is seeking to raise between £10 million and £12 million in an IPO.

Justin King, the former Sainsbury’s CEO, will join the Itim board as a Non-Executive Director. Former Sage exec Michael Jackson will take on the role of Chairman.

itim Group plans to float in London as Justin King joins board https://t.co/lnVIbReNDH
— itim (@itimLondon) June 8, 2021

Itim Group Chief Executive Ali Athar told City A.M.: “Our firm belief is that if bricks and mortar retailers are to compete in a post-Covid world, they will need to operate a best-in-class omnichannel service.”

“It is the only way they will be able to withstand the domination of pure online retailers and regain market share through using their store estates to their competitive advantage and improving profitability.”

Justin King

King recently took a “significant” stake in grocery delivery app Snappy Shopper.

He also joined the Snappy Group’s board as Non-Executive Director following a Series A funding round.

Snappy Group is formed of two businesses: Snappy Shopper and Hungrrr.

King, who is also a non-executive director at Marks & Spencer, commented: “I have been hugely impressed by the Snappy Group's affordable solution, leadership team and rapid growth.”

“The company is championing the needs of businesses in their local community. Its proprietary technology provides local businesses with an affordable delivery solution which enables them to compete in this fast changing market segment.”

“This not only caters to the trend for top up shopping but also an increasing desire by consumers to access and support local enterprises.”

He concluded: "This is an exciting and pivotal time for the business and I believe that I will be able to add significant value.”

“I look forward to working with the management team as the business continues its expansion and grows its market share further within the thriving UK convenience market and beyond."