From Burger King to boss of £100m fast fashion firm
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THE founder of celebrity fast fashion firm In The Style is expected to cash in when it floats with a £100m valuation this month.
Adam Frisby, 33, quit his job at Burger King to start the business with £1,000 in 2013, having left school with no qualifications. Now his Manchester-based business, which designs fashion collections with reality TV stars such as Love Island’s Dani Dyer, will list on the junior AIM market on or around March 17.
The plans were outlined as consumer review website Trustpilot also announced it will list in London in a blockbuster float valuing it at £1bn.
The listing of In The Style represents a remarkable turnaround after it was forced into a rescue deal in 2018 following a cash flow crisis.
An insider said it had wasted a multimillion pound investment raised from Livingbridge investment firm in May 2017. A year later Causeway Capital bought a controlling interest for just t £2.5m after new collections fell flat. The e episode had led to ‘quite serious concerns about Adam’s running of the business’, according to a source.
A spokesman from the firm said it was s always the company’s plan to bring in more investment.
The firm has performed well since, , posting sales of £35.4m and adjusted earnings of £3.6m in the nine months to December 31, boosted by the shift online e in the pandemic.
With companies rushing to join the e stock market, the float of Trustpilot will deliver a huge payday to Danish founder r Peter Holten Muhlmann.
The decision to list in London is another boost for the UK, which has struggled to attract technology firms due to strict t listing rules.
Trustpilot makes money from 20,000 0 companies who pay to display their r ‘Trustbox’ rating on their website.