Online fast fashion retailer In The Style today raised £11m ahead of its listing on London Stock Exchange’s growth market, valuing the firm at £105m.
The firm also raised £49m for the selling shareholders through the share placing, ahead of its admission to AIM on Monday.
In The Style was launched in Manchester – like it’s larger fast fashion rival Boohoo – and collaborates with social media influencers and reality TV stars such as Love Island contestant Shaughna Phillips and ex-Eastenders actor Jacqueline Jossa on its clothing lines.
In The Style said the net proceeds of the placing will be used to invest in developing its influencer network, brand marketing, entry into international markets and assist with its movement into a larger warehouse this year.
Following the listing, Causeway Capital Partners will own around 14.5 per cent of the issued ordinary shares, with senior management taking a 27.3 per cent stake.
Adam Frisby, chief executive of In The Style, said: “We are thrilled by the very positive reception to our IPO from a wide range of high-quality institutional investors.
“This is a great testament to In The Style’s differentiated brand, innovative influencer collaboration model, and exciting opportunities for future growth.”