Lovisa likely to be floated by Brett Blundy

One of Australia’s most popular jewellery and accessories chain, Lovisa, is likely to be floated at some stage soon by successful business man and owner, Brett Bundy. The brand has over 200 stores Australia wide.

Brett Blundy heads up a portfolio of iconic brands such as Bras ‘n’ things, Adairs, and Dusk. Get savings on your purchase with an Adairs coupon.

The rumours have come about at a time where there seems to be a consolidation in offerings from Blundy with the changing over of some Diva stores to Lovisa. It has been claimed that fund managers have already been approached about a possible float in the near future.

Lovisa is expected to be valued at up to 12 times earnings and would result in a market capitilisation of up to 240 million dollars.

During the last financial year, Lovisa turned over $100 million dollars with an EBITA result of approximately $20 million.

The future challenges facing the brand for anyone looking to invest is the saturation point being reached for products sold by the company.