One of Australia's premier youth fashion retailers is gearing up for a $300 million ASX listing despite a weakened retail sector that has experienced a spate of collapses and store closures since the new year.
Universal Store has 64 locations across the country and offers primarily youth-focused clothing, stocking popular brands such as Patagonia, Stussy, Fjallraven and Dickies. It is headed by chief executive Alice Barbery. Despite a rocky retail market, Universal Store and its chief executive Alice Barbery could be headed for a 2020 ASX listing.The company also runs an online store alongside its bricks-and-mortar locations. Both have benefited from the increased popularity of luxury streetwear and workwear as a fashion trend, which Universal's brands largely cater to.purchased by a consortium of prominent private equity investors in 2018 for $100 million.
In the 2018 financial year, the retailer reported revenue of $112.3 million and a pre-tax profit of $14.3 million according to documents filed with the corporate regulator, marking a near-doubling of the bottom line and a 28 per cent sales increase on the prior financial year.