MILAN — Italian mass-market retailer OVS SpA said Thursday that it had filed paperwork to be listed on the Milan Stock Exchange to regulatory body Consob. The initial public offering of OVS was expected to take place by the end of 2014, but in November, citing market volatility, the group postponed the listing to the first half of 2015.
This would be the first fashion IPO in Italy since Moncler’s listing in December 2013. In October, Italian beauty firm Intercos shelved plans to go public citing deteriorated market conditions.
OVS, which is controlled by BC Partners, has been positioning itself as a trendier fast-fashion destination, focusing on a more stylish and higher-quality lineup. The firm has been cutting costs, bringing back to Italy a part of its manufacturing and closely controlling its production abroad.
In 2013, consolidated sales totaled 1.13 billion euros, or about $1.50 billion at average exchange.