The celebrity-favored pyjama and underwear brand, Stripe and Stare, is exploring the possibility of listing on a London stock market. Nicola Piercy, co-founder of the company, indicated that a public flotation is being considered as a way to fuel the business's global expansion ambitions.
Piercy stated that she is contemplating a listing in the City and aims to join the small number of female founders who have taken their companies public in the UK over the past 15 years. She noted that a new initiative, an ‘academy’ launched by the Aquis stock exchange and Barclays Bank, has been instrumental in her pursuit of this goal. The academy aims to promote UK listings amid ongoing concerns about the global competitiveness of London's financial markets.
Aquis, established in 2012, operates a junior stock market intended to compete with the London Stock Exchange's Alternative Investment Market (AIM), which serves smaller companies. The UK's public markets have seen a decline in new floats, with some companies opting for listings in Amsterdam or New York instead.
Initially, Piercy viewed a stock market listing as something reserved for much larger corporations and largely inaccessible. However, the academy provided her with a comprehensive overview of public markets. Any potential float for Stripe and Stare would require securing the appropriate capital at the right time and price. "We are an ambitious business that wants to make a global consumer brand and we need to give the money we have raised back to investors at some point," Piercy said.
The brand, which experienced £12 million in sales last year, has benefited from what Piercy described as the "lipstick effect," where consumers continue to purchase items that make them feel good despite economic pressures. The brand recently received a publicity boost when pop star Dua Lipa was seen wearing its pyjamas on Instagram.
Piercy also commented on a perceived lack of interest from venture capital and private equity firms, suggesting they are currently prioritizing investments in artificial intelligence companies. "That's why for us looking at a flotation and all it offers is an exciting opportunity for us," she added.
David Stevens, Aquis boss, highlighted that the academy's first cohort demonstrates the UK possesses numerous ambitious and high-quality growth businesses. "The challenge is to ensure more of them see public markets as a viable route to their next stage of growth. It's about giving founders tools to understand growth options and engage with public markets," Stevens said.