Tuesday, 27 April 2010

Online Retailer 'The Hut' Looking To Float Soon

Online retailer The Hut is looking to float the company and become publicly listed after gaining £14m in recent investments. The company is looking to use this financial support to increase its annual turnover to £100m in this financial year. The company’s acquisitions director, Steven Whitehead, had this to say on the matter:
“The goal is to float. The timeframe for when we do will be determined by the market and our development. It is the right way for us to go and there’s several reasons for that."

“One thing is increased public awareness. There is a trading benefit to being a public company online, not least because people get a sense of security when dealing with a PLC."

“The second main thing, aside from profile, is equity. There is a collaborative culture from being a PLC and most members of our staff have some form of financial interest in The Hut.”
Seems like more and more companies are working hard to strengthen their online presence every day. It would be strange if we get to a point where shopping in town centres doesn’t exist as we know it anymore but maybe this change won’t happen in our lifetime, who can say?

No comments: