Fairy Fox float to hit London this summer

FAIRY Fox, the Chinese high-street clothing brand, has turned its eyes to the west and plans to list on London’s Alternative Investment Market (AIM) as soon as late July.

“AIM is particularly suitable for where Fairy Fox is in its life cycle at the moment and its current projection of growth,” a spokesperson for the fashion retailer told City A.M.

It is understood that a few years down the line Fairy Fox would look to Hong Kong for a main listing.

Focused on third-tier cities, which have smaller populations with a young and affluent demographic, Fairy Fox aims to raise £13m from the placing. The 17-year-old company intends to use the proceeds to finance the building of a second factory, which is already underway, and to open more of its own stores on the Chinese high street. Most of its products are currently sold through third party retailers.

Fairy Fox generated full year revenues of around £51.7m and a profit of £12m in financial 2011.