Made chiefs open to idea of floating on stock market

BOSSES AT Made remain openminded about the prospect of a stock market listing after the furniture retailer secured doubledigital revenue growth last year.

The online firm’s revenues soared by 40 per cent to £127m in 2017, on the back of a similar level of growth the year before.

The brand also reached a significant milestone when it secured its first institutional investor as part of a £40m funding round, although the company has refused to name its newest backer.

Made also secured backing from Partech Ventures, Level Equity and Eight Roads Ventures, which have invested in the business in previous funding rounds.

Chief executive Philippe Chainieux, who took over from Made’s founder Ning Li after serving as chief operating officer, said an initial public offering (IPO) remains an option open to the business.

“We’ve been on the IPO track for years. It’s a modality, not a strategy.

“We are happy with the route we are on, it’s (the IPO) one of the many options we have,” the chief executive said.

Made’s most recent funding will mainly be spent on marketing as it looks to expand into new markets and raise its profile.

Crucially, Mr Chainieux wants to take advantage of the growing demand for furniture sold online.

“People are getting more confident buying big-ticket items online,” he said.

“This shift is once in a generation.”