Skip navigation

Gloucestershire Business News

Flotation for online bathroom retailer Victorian Plumbing

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.

Related Articles

Coronavirus LIVE Updates: The latest news from across Gloucestershire on Wednesday, June 16 Image

Coronavirus LIVE Updates: The latest news from across Gloucestershire on Wednesday, June 16

The ongoing coronavirus situation is changing by the hour with announcements being made about businesses and services that are being forced to adapt and change.

Gloucester Rugby unveils multimillion pound training and hospitality facility Image

Gloucester Rugby unveils multimillion pound training and hospitality facility

Gloucester Rugby has given a glimpse of its state-of-the art new training facility and hospitality venue.

GE Aviation and Safran launch next generation jet engine project Image

GE Aviation and Safran launch next generation jet engine project

Two of Gloucestershire's aviation giants have launched a bold technology development program.

Cirencester cyber firm launches phishing prevention and awareness service Image

Cirencester cyber firm launches phishing prevention and awareness service

A Cirencester cyber firm has launched a new fully managed phishing prevention and awareness service.

Copyright 2021 Moose Partnership Ltd. All rights reserved. Reproduction of any content is strictly forbidden without prior permission.