model

Breakingviews – Italian Insta-star IPO to test influencer model

The 76th Venice Film Festival – Screening of the documentary “Chiara Ferragni – Unposted” – Red Carpet Arrivals – Venice, Italy, September 4, 2019 – Chiara Ferragni poses.

MILAN (Reuters Breakingviews) – At the beginning of the 2019 documentary “Chiara Ferragni: Unposted”, the Italian Instagram star enters a tattoo parlour to get her nipple pierced. The camera lingers on her picture-perfect yet grimacing face while the job gets done. Sharing such personal life details, usually mixing elegance and fun, has won the fashion influencer 21 million followers and collaborations with Dior, Lancôme and others.

Now Ferragni, 33, is considering a stock market debut to monetise the clothing-to-lifestyle persona she has built over a decade, according to a September interview with an Italian newspaper. An initial public offering in Milan, where she resides, would be a publicity coup for Borsa Italiana’s boss Raffaele Jerusalmi. But it would also test the staying

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beauty

Adore Beauty’s valuation raises eyebrows ahead of IPO

Quadrant has agreed not to sell more shares until the company releases its FY 2021 results.

Adore’s founders Kate Morris and James Height will earn $45.9 million each by selling 40 per cent of their holdings. Their individual stakes will fall from 19.3 per cent to 10.8 per cent each.

The founders’ remaining shareholdings will also be escrowed to prevent further sales, but for unspecified time periods.

Quadrant bought its 60 per cent stake in September 2019, leading some professional investors to ask why it has only waited just over a year to sell its ownership interest. The likely answer being that Quadrant believes now is a good time, given soaring e-commerce valuations.

On the plus side, Adore will still be led by its founders over the long term, with most great growth businesses on the sharemarket led by founders.

E-commerce star

On face value, Adore looks a retail star

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beauty

Hipages expected to follow Adore Beauty’s lead for lower risk IPO

It is understood Hipages will look to raise $40 million through an issue of new shares for its IPO, while a shareholder selldown would account for another $50 million to $70 million.

The amount of the selldown depends on how much Hipages’ existing shareholders – including News Corporation’s News Pty Ltd, fund manager Ellerston Capital and venture capital firm Right Click Capital – sell into the transaction, which is yet to be determined.

GS says Hipages worth up to $370m

Sources said News Corp – which owns about 30 per cent of the business – was unlikely to be a big seller, while Right Click wanted to offload some of its stake.

Funds raised would help Hipages pay off $12 million in venture debt and help the company invest in its brand and products. The 200-person Hipages helps tradespeople generate business leads through an online marketplace but wants to expand

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