Fast fashion brand Quiz targets £200m float

Glasgow-based fast fashion retailer Quiz has hired advisers to investigate the possibility of a £200m stock market float this summer, according to reports.

The Sunday Telegraph reports that the business, which started out as a kilt-maker 70 years ago, has recruited Panmure Gordon to investigate strategic options including the possibility of a listing on the London stock market. The news comes just days after online fast fashion retailer Missguided was reported to have hired Rothschild to investigate its options, including a sale or float either in 2018 or 2019.

Quiz was founded by Mohammed Ramzam, who emigrated to the UK from Pakistan in 1947, as a kilt, duffel coat and tartan pinafore maker. His son Tarek Ramzam took over the running of the business at the age of 18 and pivoted the business model, opening the brand's first stores in Scotland selling own label denim and knitwear in 1993.

It now has more than 250 stores in major malls and high streets across the UK and launched its e-store in 2005. It employs more than 1,000 people in the UK and also has more than 50 franchises in Asia and Europe.

Quiz offers a range of fast-fashion including dresses, separates, denim, footwear and accessories, and offers specialist collections including Curve and Occasionwear. It has also joined the burgeoning number of high street brands offering affordable bridalwear with bridal gowns selling from around £70.