Seraphine is looking at a IPO plan
(Picture: Seraphine)Seraphine, the upmarket maternity wear brand, whose products have previously been worn by the Duchess of Cambridge, is eyeing a London float.
The proposal to trade on the London Stock Exchange’s main market comes around six months after Mayfair Equity Partners, along with management, bought the company from Bridgepoint Growth and entrepreneur Cécile Reinaud, valuing it at around £50 million.
Founder Reinaud, who reportedly made close to £20 million, launched Seraphine in 2002 from a single store in Kensington. It today has eight stores in city locations and reaches customers in over 120 countries through websites.
The IPO is aimed at helping the brand to expand, particularly online. Numis is advising.
The company pointed out that the maternity and nursing wear sector is a highly resilient market given the need to purchase particular items, compared to discretionary nature of the wider apparel market.
Bertie Aykroyd, partner of Mayfair Equity Partners, said: "Seraphine has an exceptional premium brand, and we believe a public market listing will help to both amplify the brand and to reach new audiences. An IPO was part of our original investment thesis as we recognised that the group's growth plans could benefit from undertaking an IPO with the additional profile and brand visibility such a process could bring, especially in markets such as the UK and the US.”
