Britannia prepares for float

THE House of Britannia – the luxury investment firm which owns glove maker to the Queen, Cornelia James – has bolstered its board ahead of plans to list on London’s main market next year.

Retail veteran and former Burton and Mothercare boss Greg Tufnell – brother of cricketing legend Phil – is joining to help its brands expand into retail.

He will lead Cornelia James’ retail expansion which will see it relaunch in department store House of Fraser later this year.

Lady Rona Delves Broughton, chairman of The House of Britannia, said: ‘Greg Tufnell has exactly the right combination of high level successful retail experience on which the British luxury brands under the umbrella of The House of Britannia will be able to depend as we work with them over the next few years to develop their global profile.’

The House of Britannia is currently listed on the European GXG market but it will raise further equity to list in London next year.

It last week launched a rights issue to raise £240,000 to fund further expansion and plans to raise up to £600,000 this year in total, with a target of £2m annual profit in five years.

Simon Petherick, chief executive of The House of Britannia, said: ‘Our company is making reassuring and clear progress in its growth strategy, notably on its first two British heritage luxury brands, Cornelia James and Benson & Clegg.’

The group is also planning to make two further acquisitions this year as the entire British luxury sector is forecast to reach £12.2bn in two years.