Moonpig mulls public listing following lockdown boom
Online greeting card retailer Moonpig is in talks for a stock market flotation after a boom in sales during lockdown stamped its position on the e-commerce market.
Moonpig Group, owned by Exponent Private Equity, is in talks with investment banks about options that include a public listing, according to Sky News.
Discussions are thought to be at an early stage with several options being mooted, while no decision about a float has been reached at present.
It comes as the online gifting platform, which was an early entry to the e-commerce market at its launch in 2000, has been greeted by meteoric sales during lockdown.
The greeting card business jumped on lockdown trends, rolling out a Big Night In limited edition set of e-cards with celebrity collaborations during the pandemic.
The online retailer, which also operates in the Netherlands under the Greetz brand, has scooped up the market share of rivals such as Clintons over recent years, and now stands as the UK’s largest greeting card company.
The business recorded a pre-tax profit of £33m for the year, up 137 per cent compared to the same period last year, after adding 1m customers in the first eight weeks of lockdown.
Moonpig secured the crown as the nation’s leading shopping app over the summer period, as UK customers turned to their screens to stay in touch with loved ones during the pandemic.
Former WH Smith chief executive Kate Swann joined the company as chair in August last year, and has overseen the firm’s 44 per cent rise in sales in the past 12 months.
A Moonpig Group spokesperson said: “As a high growth company we constantly evaluate our funding options, and regularly meet with advisers on this subject.”
Exponent did not respond to requests for comment.
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