×
4 684
Fashion Jobs
HARVEY NICHOLS
Brand Consultant - Moncler
Permanent · EDINBURGH
BOOHOO GROUP
Procurement Manager (Marketing)
Permanent · MANCHESTER
SUPERDRY
Retail Marketing Executive
Permanent · CHELTENHAM
ABERCROMBIE AND FITCH CO.
Wholesale, Associate Account Executive, Emea
Permanent · London
COTY
Commercial Trade Marketing Manager Beauty
Permanent · London
L'OREAL GROUP
Product Manager - Viktor & Rolf
Permanent · London
L'OREAL GROUP
Prada Business Manager, 1.0, Harrods London
Permanent · London
L'OREAL GROUP
Senior Advocacy Manager - IT Cosmetics - Ftc (Maternity Cover)
Permanent · London
L'OREAL GROUP
Brand Engagement Manager - Ysl - Luxe (Maternity Cover)
Permanent · London
SELFRIDGES
Fragrance Consultant - 37.5 Hours (Trafford)
Permanent · MANCHESTER
VF INTERNATIONAL
Warehouse Team Leader
Permanent · COALVILLE
VANS
Account Coordinator - French Speaking - Vans - Fixed Term
Permanent · NOTTINGHAM
VF INTERNATIONAL
Warehouse Inventory Manager
Permanent · COALVILLE
AESOP
Retail Consultant | Aesop Borough, London | Full Time
Permanent · London
HOMESENSE
Homesense Bolton Middlebrook Loss Prevention Security Officer Part Time 20 Hours
Permanent · Bolton
TK MAXX
Loss Prevention Officer-Full Time-Secondment-tk Maxx Brighton
Permanent · Brighton and Hove
TK MAXX
Loss Prevention Officer-Full Time-tk Maxx Portsmouth Ocean
Permanent · Portsmouth
TK MAXX
Loss Prevention Officer- tk Maxx Greenwich- Full Time
Permanent · London
TK MAXX
Full-Time Loss Prevention Officer-Waltham Abbey
Permanent · London
TK MAXX
Part-Time Loss Prevention Officer-Enfield
Permanent · Enfield
TK MAXX
Loss Prevention Advisor-Full Time-tk Maxx Worthing
Permanent · Worthing
ON RUNNING
Regional Sales Representative
Permanent · LONDON
Ads
By
Reuters
Published
Dec 21, 2021
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Russia's Melon Fashion Group picks banks for IPO - sources

By
Reuters
Published
Dec 21, 2021

Russia's Melon Fashion Group has picked Sberbank CIB, VTB Capital, Goldman Sachs and BofA to help organise its initial public offering (IPO) in 2022, two sources with knowledge of the company's plans told Reuters on Tuesday.

Several Russian companies could hold IPOs next year, extending the listing spree that started a year ago, if geopolitics, including Ukraine tensions, and other risks do not thwart their plans.

One financial market source said Melon was aiming to list in autumn 2022. A third financial market source confirmed Melon's plan to list next year.


Photo: Reuters



Melon Fashion, VTB Capital and Goldman Sachs declined to comment. Sberbank CIB and BofA did not immediately respond.

"It's too early to talk about an IPO at the moment," Melon CEO Mikhail Urzhumtsev told Reuters earlier this month.

"An IPO is one of a variety of opportunities for the company's development that we are considering," he said in an interview, without providing further details.

Russian firms' interest in listing shares swelled as the benchmark MOEX index soared to record highs in October, but a subsequent sell-off has reminded the market of Russia's vulnerability to external shocks.

Based in St Petersburg on a site that housed a sewing factory in Soviet times, Melon owns four, mainly women's, fashion brands - Zarina, Befree, Love Republic and Sela - with around 815 stores across Russia and CIS.

Melon's revenue jumped 66% in the first nine months of 2021 to 28.3 billion roubles ($383.5 million), surpassing the 2020 result. Its online business rose from 7% of sales in 2017 to 34% in 2020.

"We are starting online penetration outside Russia and CIS countries and we believe this is our way out, mostly online," Urzhumtsev said, explaining the company planned to use e-commerce marketplaces for this.

Swedish real estate firm Eastnine, which holds a 36% stake, said in its nine-month report that Melon's strong growth had opened up divestment opportunities. This may take the form of an IPO and could occur before summer 2022, Eastnine said.

Melon's creativity hub is based in St Petersburg, where styles and stores are designed. Production is largely based elsewhere, with the majority in China.

Urzhumtsev said sustainability had long been important to the company, but that it was focused on carrying out a deep diagnosis of its supply chain and factories next year.

© Thomson Reuters 2023 All rights reserved.