Fantastic Furniture Listing Talks Intensify
Greenlit Brands-owned Fantastic Furniture has reportedly progressed talks to list the furniture retailer, as brokers book fund managers for half-day tours around NSW facilities.
Reported by AFR’s Street Talk, brokers Credit Suisse and Macquarie Capital have begun offering tours, with visits showcasing Fantastic’s factories and distribution centres – pitching the entity as a vertical integration story.
The tours are said to be lead by Fantastic’s management team, with speakers informing fund managers about the strengths of its warehouse and logistics facilities through the COVID19 pandemic.
It follows reports several months prior that Greenlit Brands was calling for pitches from investment banks to float Fantastic.
Fantastic Furniture has sought to differentiate itself from the rest of Greenlit brand’s stable, showcasing its accomplishments as a sophisticated omni-channel retailer with sales of around $500 million.
The retail group has reportedly notched online sales of around 28% of total sales, with click and collect dubbed to further intensify its growth channel.
Market commentators suggest Greenlit Brands is readying Fantastic Furniture for a listing in Q4, subject to market conditions.