The corporate is predicted to start buying and selling on London’s junior AIM market in November and can plough the cash raised into growth.
The 60-store agency was established in 2005 by the founders of JD Sports activities, David Makin and John Wardle, and can divulge heart's contents to 10 retailers a yr with a goal of “no less than” 150.
Footasylum’s merchandise are aimed toward 16 to 24-year-previous “style aware prospects”, with the corporate dividing its customers into six core “tribes”.
Every tribe, Footasylum stated, has a “nuanced demographic and regional profile”.
Boss Clare Nesbitt stated: “This can be a logical subsequent step in Footasylum’s upward trajectory as we search to construct on our thrilling product-led, multi-channel growth technique.
“We pleasure ourselves on being a dynamic, adaptive and quick-shifting enterprise with a robust aggressive place, a fantastic secure of third social gathering and personal manufacturers, and a disciplined method to delivering sustainable development.
“We see substantial alternatives forward throughout our retail, on-line and wholesales channels, and consider that we now have the folks, merchandise and technique to grasp them.”
Final yr the agency raked in £147 million in income and booked an working revenue of £11.2 million.
Menswear accounted for 71% within the interval in contrast with eight% for womenswear and 18.5% for childrenswear.