Made.com has reportedly hired three investment bankers to help develop a stock market flotation that would value the company at up to £1bn.
According to Sky News, the online furniture store has onboarded JP Morgan, Morgan Stanley and Liberum to work on plans for an initial public offering which will launch later this year.
It has been reported that no formal decision about a public listing has been made yet, however insiders told the source that it looks increasingly likely to happen.
The company which first launched in 2010, is also said to be considering selling a stake or the outright sale of the business.
With traditional furniture stores closed, Made.com is said to be trading well as it operates solely online. Its most recent financial results show a 22% increase in sales to £212m in 2019.
In a recent statement, a spokesperson for Made.com said: “The rapid acceleration in the shift to online shopping, with three to five years change in the past 12 months, meant that 2020 was extremely successful for Made, despite the challenging environment.
“As we move into 2021, we are exploring the best way to ensure that the business has all the resources required to build on our momentum and seize this unique moment of opportunity.”