From the bottom of Victoria Road, looking up the wide street to the huge wrought-iron gates that open into Queen’s Park, it doesn’t take long to pick out the usual array of bookmakers, charity shops and pubs that have become so dominant in many of Glasgow’s neighbourhoods.
Almost a quarter of a century ago, Tarak Ramzan opened a clothing shop in that street. Yesterday his business floated with a £200m market value.
With investors doing more than just browsing the stock, it gained 18 per cent in its opening day.
While it is not uncommon
for a new listing to bounce, there is clearly an appetite for Quiz’s international strategy.
There are fewer listed businesses based north of the Border than there once were, but it is encouraging to see Glasgow-headquartered Quiz join their ranks.
The business has had its ups and downs. In 2009 it collapsed into administration before the family bought the vast bulk of it back in a pre-pack deal.
Since then, it has grown annual revenues to £90m and is present in 19 countries. Both these numbers are likely to grow, with international expansion very much key to management’s plans.
Brands such as Asos have consistently raised revenue and profits on the back of growing international sales, so it is little wonder Mr Ramzan described himself as excited when the ticker started rolling.
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