Online retailer The Nile weighs up public listing after $2.5m raise
Online retailer The Nile is weighing up its options for a public listing after a $2.5 million capital raise through Deloitte, the business said on Wednesday.
Appointing Bell Potter and RBC Capital Markets to assist with its investigation into a “potential pathway toward public markets”, The Nile has seen strong growth during the last year inline with the rest of the e-commerce industry.
“As one of the first online retailers in Australia, it has been exciting to see the accelerating growth of ecommerce in the past 12 months,” said The Nile Group co-founder and chief executive Jethro Marks.
“But this isn’t just a recent phenomenon we are unexpectedly benefiting from. We have been planning for, and growing from, these trends throughout our 17-year history of being a leader in online commerce.”
Nile Group owns and operates a number of online brands, with three new brands soon to launch, and operates across Australia, New Zealand, as well as the UK and US markets. According to the group, it is on track for a “another record year” in FY21.
Marks said it had been encouraging to see the Australian capital markets support the growth of local online retailers, and said he expects the growth enjoyed by e-commerce brands to stick around for the long term.
“The retailers who will thrive in the coming years are therefore not those who passively ‘got lucky’ when Covid-19 hit. It will be retailers with proactive strategies and foresight into market trends, both macroeconomic and at a product level, who will build long-term value for shareholders and customers,” Marks said.