Online furniture retailer Made.com intends to list on the London Stock Exchange (LSE) at an expected valuation of £1 billion.

The retailer was launched in 2010 by Lastminute.com founder Brent Hoberman and social network Bebo co-founder Michael Birch and currently sells its goods in eight countries.

Made.com intends to raise £100 million in the initial public offering (IPO), with the official pricing set to be confirmed soon.

The retailer, which has around 590 employees, experienced strong growth over the pandemic, with its revenues rising 30 per cent year-on-year to £315 million.
Made.com said the capital would be used to develop growth in existing markets, improve service through reduction of lead times offered to customers, and to scale Made’s homeware range.

JPMorgan, Morgan Stanley, and UK investment bank Liberum are working on the IPO.
Made.com are one of many major British retailers to make a high value IPO over the past year, following The Hut Group, Moonpig, Dr Martens, and In The Style.

E-commerce retailer The Hut Group listed on the LSE at a valuation of £4.5 billion pounds in August 2020, the biggest listing by a British company since 2013.

The pandemic boosted worldwide furniture sales in general, with sales of office chairs, office desks, and outdoor furniture up 104 per cent , 89 per cent , 428 per cent respectively according to statistics compiled by StackLine and Criteo.

”Made.com has been revolutionising the home and living sector for the last 11 years,” said Philippe Chainieux chief executive at Made.com. “Founded in the UK, it is now the leading digitally native lifestyle brand in a sector that is shifting steadily online.

“The business is powered by a technology platform that connects independent designers and makers, allowing us to develop our exclusive product offering. The business is fast growing and we have demonstrated the capacity of our brand and customer proposition to travel well.

He added: “Around half of our sales are outside of the UK and we are aiming to be the leading home destination in Europe for the digital native.”

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