BREAKING NEWS

BREAKING NEWS

Fashion to Frankfurt: Tom Tailor share offer

Now Reading:

Fashion to Frankfurt: Tom Tailor share offer

Text size Aa Aa

German fashion house Tom Tailor has floated on the Frankfurt stock market in an effort to slice debt.

The initial public share offer should raise more than 140 million euros.

The casual wear company, which compares itself to the likes of Spain’s Zara, insisted the move would allow expansion.

The firms CEO Dieter Holzer said:“We are very satisfied. It’s an important day for Tom Tailor, for the company and staff. Of course, we now have another opportunity to develop Tom Tailor, to gain traction and to expand our growth. Tom Tailor is a story of growth.”

It is the second company to float on the German stock exchange this week after Cable Deutchland.

Directors said shareholders could expect an annual dividend of up to 40 percent.

Aimed at the medium price range, Tom Tailor’s core markets are in Germany, Austria, and Switzerland, as well as the Benelux countries.