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(Sharecast News) - Online furniture retailer Dusk has reportedly picked investment banks to spearhead a 300m London flotation.
According to Sky News, Dusk has chosen Panmure Liberum and Zeus to help manage an initial public offering, which is slated to take place later this year.
Headquartered in Yorkshire, Dusk has amassed a two million-strong customer base, with repeat customers now accounting for over half of all transactions.
A 300m would put its equity roughly on a par with that of listed rival DFS Furniture, Sky said.
A source previously told Sky that founder and executive chair Jason Walker plans to remain a major shareholder after the company goes public.
Dusk's rapid growth has been a welcome success story in an industry which has been battling the dual headwinds of waning consumer confidence and rising costs in recent years, Sky said. Made, another online furniture player, collapsed into administration in 2022, with its brand being snapped up by Next.
By contrast, Dusk's revenues rose 28% to 195m in the year to the end of March.
Dusk targets a lower price point for its products than its rivals, arguing that its online-only model enables it to minimise overheads.
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