A Salford-headquartered online womenswear fashion brand has announced plans to float on the London Stock Exchange's AIM market.
In The Style, which was founded in 2013 by entrepreneur Adam Frisby with £1,000 of seed funding from his bedroom, works with influencers on a long-term basis to collaboratively design, develop and promote branded fashion collections.
Admission is expected to take place on or around March 17.
The retailer achieved net sales of £35.4m net sales and £3.6m in adjusted EBITDA in the nine months to December 31, with sales up 159% from £13.7m.
In The Style has also announced that two new, independent non-executive directors, Nancy Cruickshank and Adam Bellamy, will join its board on admission.
Mrs Cruickshank is a technology entrepreneur and current non-executive director of Flutter Entertainment and Allegro Group while Mr Bellamy is a current non-executive director at Ten Entertainment Group and Loungers.
Mr Frisby, who is also the company's chief executive, said: "I am so proud of the business In the Style has become.
"We are a fast-growing e-commerce womenswear fashion brand with an innovative influencer collaboration model.
"Since our launch back in 2013, we have strived to do things differently by ensuring we empower our customers to be brave, embrace body confidence and, most of all, love themselves for who they are.
"We work closely with social media influencers and celebrity partners who align with our brand values to design and launch authentic collections that are then sold through our proprietary In the Style app, e-commerce website, and selected B2B partners.
"Our collaboration model creates a strong customer connection, drives highly efficient customer acquisition marketing metrics, and gives us exposure to a broad range of customers.
"We are delighted to announce our intention to float on AIM which marks an exciting new chapter in In The Style’s journey so far.
"We have a fast-growing customer base, a highly relevant brand and a pipeline or exciting initiatives.
"We are confident that we can build on our strong foundation to achieve our growth plans."
James Sharp joined the business as non-executive chairman in 2016 and in 2017 Baronsmead VCT acquired a minority shareholding.
In early 2018, Causeway Capital completed a growth capital investment in return for an approximately 49% interest in the business, providing Baronsmead VCT with an exit.
Liberum Capital is acting as nominated adviser, sole broker and sole bookrunner in relation to the proposed placing and admission.
