June 3, 2021
Online bathroom retailer Victorian Plumbing has announced that it has applied to be listed on the London Stock Exchange’s AIM.
To do this it would re-register as a public limited company. The Alternative Investment Market (AIM) is a sub-market of the London Stock Exchange.
Victorian Plumbing expects admission to the AIM to take place on or around June 22.
The company offers more than 24,000 products and accessories for the entire bathroom from more than 125 brands and claims to be the leading online specialist by revenue in 2020, with an estimated market share of 14.2%. It also says that its brand awareness increased from 50% to 64% between February 2018 and February 2021.
Its website boasted 23 million unique visitors during the financial year ended September 30, 2020, during which it recorded total revenue of £208.7 million and profits of £26.2m (EBITDA). In the six months to March 31 this year, it delivered revenue of £140.7m, with profits of £20.1m.
It claims high customer satisfaction ratings and a Trustpilot rating of 4.3.
Commenting on the flotation, founder and chief executive Mark Radcliffe said: “Victorian Plumbing is the most recognised online bathroom brand in the UK. We work hard every day to make sure we are providing consumers with the largest choice of quality bathroom products. Our approach is industry leading, as evidenced by our substantial and growing market share.
“It’s been a fantastic and eventful journey growing Victorian Plumbing over the past two decades. Our early and sustained investment in digital retailing and the advantages that brings has allowed us to make the most of the structural shift in consumers increasingly looking to buy bathroom products online.
“I’m incredibly proud of all of our employees who have built this unique business and, in the process, have developed an incredibly strong, exciting and trusted brand together with a hard-working and innovative culture.
“As we are now the leading online retailer of bathroom products in the UK, it seems the ideal time to join the UK stock market. With the deep sector expertise and talent of our senior team members and the fundamental strengths of our proven business model within a growing market, we are excited for the significant growth opportunities that lie ahead for Victorian Plumbing.”
Victorian Plumbing also revealed details of its growth plans for the future.
In the near-term, it plans to grow its position in the B2C bathrooms market with new product development and innovation, continue its marketing investments and improvements, continue to improve its customer experience, continue to leverage the current boom in home improvements, introduce a dedicated trade team to drive trade sales, and grow revenue by expanding its product lines.
In the medium term, it plans to expand into new adjacent product categories and to move into certain markets within Europe.
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