The Quiz store in Westfield.

QUIZ POPS: Quiz, the U.K. fast-fashion retailer that specializes in dresses and occasion wear at value prices, is set to list on London’s AIM market on July 28.

The company, an omnichannel retailer, has a placing price of 1.61 pounds per share that will translate into a market capitalization of 200 million pounds on the day of admission.

The placing is expected to raise 102.7 million pounds of gross proceeds, of which 10.6 million pounds has been earmarked for the company to accelerate growth. Existing shareholders and directors will hold a 48.8 percent stake in the listed entity.

The brand was founded in 1993 in Glasgow, Scotland, and employs about 1,350 people in the U.K. and Ireland. It sells via its web site, apps and through 73 stand-alone stores and 165 concessions in the U.K. and Ireland.

Products on the site include a black and nude sequined mesh maxidress for 99.99 pounds, a red frill tunic dress for 26.99 pounds and a white “Bardot” crochet trim top for 17.99 pounds. It also sells shoes, accessories and a plus-size range.

The company said it aims to offer “all the latest trends at value for money prices,” and describes its target audience as fashion-conscious women of all ages.

Internationally, Quiz sells in 19 countries through 65 international franchise stores, concessions, wholesale partners and online partners.

The company said group revenues increased 21 percent per annum between 2015 and 2017 to 89.8 million pounds, with online and international channels showing the fastest growth.

The company operates with short lead times and introduces products to its stores and web site within weeks of identifying trends. The group said it has one of the fastest supply chains in the U.K. fashion industry.

The IPO money will be used to exploit the retailer’s “extensive online potential” by increasing marketing activity, opening international web sites, partnering with third-party platforms, broadening the product range and introducing new categories, as well as developing and improving the existing mobile channel.

Quiz said its 24-month plan also includes opening international web sites in Spain, the U.S. and Australia; concessions in Cyprus, the U.S. and Central America, and further expansion in the Middle East and the Far East.

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