Flotation for online bathroom retailer Victorian Plumbing
By Punchline reporter | 3rd June 2021
The DIY boom continues, with online bathroom specialist Victorian Plumbing set to float on the stock market later this month.
The Liverpool-based company has grown rapidly and now sells more than 24,000 products from over 125 brands.
It is now the UK's leading online specialist bathroom brand by revenue in 2020 (source: Mintel) and the second largest retailer of bathroom products in the UK, with an estimated 14.2% of the bathroom market by revenue in 2020.
Own brand sales generated approximately 75% of revenue in the financial year ended 30th September 2020
The initial public share offering on London's AIM market is expected to take place around 22nd June.
Founder and chief executive of Victorian Plumbing Mark Radcliffe said: "It's been a fantastic and eventful journey growing Victorian Plumbing over the past two decades.
"Our early and sustained investment in digital retailing and the advantages that brings has allowed us to make the most of the structural shift in consumers increasingly looking to buy bathroom products online."
Plans include the potential expansion into countries such as France, Ireland, Germany and Spain, as well as making improvements to the supply chain and customer experience.
Mr Radcliffe added: "As we are now the leading online retailer of bathroom products in the UK, it seems the ideal time to join the UK stock market.
"With the deep sector expertise and talent of our senior team members and the fundamental strengths of our proven business model within a growing market, we are excited for the significant growth opportunities that lie ahead for Victorian Plumbing."
Former chief executive of William Hill Philip Bowcock will be appointed as Victorian Plumbing's new chairman upon admission while Damian Sanders, a board member at Cineworld and The Hut Group, will also become a non-executive director.
The announcement came as the home improvement market continues to boom with Wickes, the DIY retailer, reported its group sales soared 45.7 per cent on a comparable basis.
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