Global financial services firm JPMorgan has confirmed speculation that fashion brands Witchery and Mimco are gearing up to go public.
Andrew Donohoe, a member of the communications team at JPMorgan, confirmed to Ragtrader this afternoon it has been mandated by Gresham Private Equity to manage the IPO process for its labels Witchery and Mimco.
The confirmation follows weeks of speculation on the matter and quotes from various different sources 'close to the matter'.
Macquarie Group Ltd is also believed to be involved in the IPO process, but when contacted for comment, Paula Hannaford of the Macquarie Group communications team said: “it’s speculation and we don’t comment on speculation”.
It is believed the offering could raise around 300 million Australian dollars (US$319.7 million).
Gresham acquired Witchery in 2006 for $130 million, and added accessories business Mimco a year later.