Joules unveils plans to float on Aim
Founded in 1989 by Tom Joule, the retailer is known for its colour and proprietary prints designed by the company's in-house design team.
Group revenues increased 50.2% to £116.4 million between 2013 and 2015 driven mainly by new store roll-outs, continued expansion of e-commerce and increased sales within existing wholesale accounts.
Joules has opened an average of 12 new stores each year in the UK over the last three years. It also has a fast growing presence in North America and Germany with international revenues growing by 198% in the period.
In preparation for the admission, Joules has appointed David Stead as senior independent non-executive director and Jill Little as independent non-executive director.
Meanwhile, Neil McCausland will continue as non-executive chairman of the group while Joule will remain as chief brand officer and as an executive director following the float.
Colin Porter, chief executive of Joules, said: "Joules has a rare heritage and a strong presence across clothing and lifestyle product categories. Since the brand's foundation more than 26 years ago, Joules has enjoyed strong, consistent growth developing into the much-loved fun, family, 'time-off' lifestyle brand it is today. We have a clear strategy to develop the brand further and we see real potential for continued growth across channels both in our core UK market and internationally."
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