London Stock Exchange welcomes Joules Group Plc
London Stock Exchange today welcomes Joules Group Plc, a premium lifestyle brand and multi-channel retailer, to the AIM market following its successful IPO.
Joules is a UK-based premium lifestyle brand which designs and sells Joules branded lifestyle clothing, accessories and homeware.
Born in the fields of Great Britain, founder Tom Joule began selling clothes at outdoor events throughout the country over 25 years ago, finding a niche in the market when he realised that his customers were a bright and colourful bunch, but their clothes were quite the contrary.
Today it has 94 stores in the UK and Republic of Ireland, a customer database of two million customers*, an established e-commerce platform and a growing international presence.
The strong brand identity is at the heart of the business and encompasses values of time-off, heritage, countryside, Britishness, family and fun, which resonate strongly with its large, growing and loyal customer base. Following great success in the UK, Joules is attracting an ever-increasing international audience, through the development of wholesale accounts in North America and Germany supported by dedicated websites for each market.
The brand values are reflected through handcrafted product designs, which are recognisable for their distinctive colours, prints, detail and quality. These designs have successfully stretched across a broad range of product categories, from womenswear to homeware, demonstrating Joules’ relevance to multiple aspects of its customers’ lives.
Colin Porter, Chief Executive Officer of Joules, said: “We’re delighted to have successfully listed on the AIM market today and welcome our new shareholders to Joules.”
The IPO placing raised gross proceeds of approximately £77.5 million. At the placing price of £1.60, the Company will have a market capitalisation of approximately £140 million. The Company’s ordinary shares will trade under the symbol JOUL.
Peel Hunt LLP acted as Nominated Adviser and Broker to the Company, alongside Liberum Capital Limited.