From Burger King to head of the £ 100 million fashion empire, the Style founder will make money if the company floats on AIM this month
The founder of popular fast fashion company In The Style is expected to make money when it goes public this month with a valuation of £ 100 million.
Adam Frisby, 33, quit his job at Burger King to start the company with £ 1,000 in 2013 after leaving school without a degree.
Now his Manchester-based company, which designs fashion collections featuring reality TV stars like Love Island’s Dani Dyer, will be listed in the Junior AIM market on or about March 17th.
Adam Frisby, 33, quit his job at Burger King to start the company with £ 1,000 in 2013 after leaving school without a degree
The plans were outlined when consumer ratings website Trustpilot also announced it would be listed in a blockbuster float in London valued at £ 1 billion.
In The Style’s listing represents a notable turnaround after being forced into a bailout in 2018 following a cash flow crisis.
A source said he wasted a multi-million pound investment raised by investment firm Livingbridge in May 2017.
A year later, Causeway Capital bought a controlling stake for just £ 2.5m after the new collections fell flat. The episode had raised “fairly serious concerns about Adam’s management,” according to a source.
A company spokesman said it was always the company’s plan to make more investments.
The company has done well since then, generating £ 35.4m in revenue and an adjusted profit of £ 3.6m in the nine months ended December 31, helped by the online postponement of the pandemic.
With companies going public quickly, the Float from Trustpilot will give Danish founder Peter Holten Muhlmann a huge payday.
The decision to list in London is another boost for the UK, which has struggled to attract tech companies due to strict listing rules.
Trustpilot makes money off of 20,000 companies who pay to have their Trustbox review posted on their website.