Glasgow’s Quiz fashion firm plans flotation

Credit: Quiz Limited

Glasgow-based “fast fashion” firm Quiz has announced its intention to float on the junior AIM market in July 2017.

Sources said Quiz would seek to raise up to an initial £10 million in the IPO and could have an eventual stock market value of up to £200 million.

Quiz, which employs about 1,350 people, said its revenues increased 21% each year between 2015 to 2017 to £89.8 million.

Quiz CEO Tarak Ramzan said: “Quiz is a strong and distinctive omni-channel fashion brand with a clear customer and product focus.

“We are delighted to announce the group’s intention to float on AIM and we are confident that this will help enable the brand to achieve its exciting global potential.

“Fast fashion is in Quiz’s DNA and our ‘just in time’ model ensures that we are always responding in real time to new trends as they emerge.

“This enables Quiz to always offer fantastic value and quality products that make fashion forward females feel glamorous and stand out from the crowd.”

Quiz said it intends to appoint JD Sports executive chairman Peter Cowgill as its non-executive chairman.

Cowgill said: “I am delighted to be joining Quiz at this exciting time.

“Quiz is a dynamic company with a fantastic product offering and proven routes to market.

“The group is ideally placed to capitalise on a wide range of growth opportunities, particularly online, where the brand has experienced very strong growth.”

Ramzan added: “The group’s fast, flexible supply chain together with the winning formula of style, quality, value and speed-to-market has enabled Quiz to grow rapidly into an established international fashion brand with over 300 standalone stores, concessions, franchise stores, wholesale partners and international online partners in 19 countries.

“I am very confident that we have a well invested infrastructure, a fantastic team and a clear strategy to accelerate further the growth of the Quiz brand across all channels and markets.”