Rising sales set The Very Group on the road to a ‘£4bn float’: Retailer hails a ‘robust performance’
The Very Group hailed a ‘robust performance’ as it gears up for a long-anticipated stock market float.
The company, fronted by actress Michelle Keegan, which sells clothes, footwear, electronics, furniture and gifts is owned by the Barclay family.
It is understood to be planning an IPO in the middle of next year that could value it at £4billion and would mark the first time the Barclays have taken a flagship company public.
Very Group, fronted by actress Michelle Keegan (pictured modelling clothing from her own Very collection), is owned by the Barclay family
The business behind Very.co.uk and Littlewoods.com has been bolstering its top team – including appointing Lionel Desclee as chief executive and Dirk Van den Berghe as chairman.
In the year to July, sales across the group slipped from record levels seen a year earlier – when it was boosted by a lockdown-fuelled online shopping boom.
But Very said overall sales were still 4.8 per cent up from pre-pandemic levels at £1.8billion. Profits rose 2.2 per cent from a year earlier to £63.9million.
Finance boss Ben Fletcher claimed Very was ‘there for millions of families’ during the year.