KupiVIP plans to conduct IPO on NYSE in 2015

KupiVIP plans to conduct IPO on NYSE in 2015KupiVIP Holding, Russia’s leading online fashion luxury clothing retailer, plans to conduct its initial public offering (IPO) in 2015, the company’s founder and CEO Oskar Hartmann told reporters.

We are keeping our plans on going through with the IPO. We have two years left to prepare – and we will prepare. We want to be completely ready by the end of 2014, and the IPO itself will be made in 2015, - he said in the sidelines of Retailer Index 500 Forum.

According to Hartmann, the Holding still intends to make its IPO on NYSE - it is the best option so far. The minimum benchmark for the IPO is raising $125M. The company should be evaluated at a minimum range of $700M to $1B by the IPO time. Now its value is lower, - the CEO of the company says.

The funds raised will be spent on the company development. There is a platform we intend to develop. There are investment opportunities that are not yet implemented, - Hartmann says. According to him, the company's revenue in 2012 amounted to $260M. This year we expect a growth of over 60%, - he said. Thus, the volume of the holding sales for 2013 could reach more than $416M.