Fast fashion fever behind Quiz £200m IPO – Telegraph.co.uk
Last year Quiz posted sales of Â£87.4m while pre-tax profits grew by 17pc to Â£5.7m. So far this year sales have grown by 25pc as online and international sales have soared. The company said that earnings have also jumped by 30.6pc in the last two years to Â£10.3m.Â
The business was originally started by Mr Ramzanâs father, Mohammed, who moved to Scotland from Pakistan in 1947 and set up a factory making kilts, duffle coats and tartan pinafores.
Mr Ramzan took over the business aged just 18 and changed strategy, opening the first Quiz shop in Glasgow in 1994, selling own-label jeans and knitwear. Since then, the business has focused on affordable evening and occasion wear for women aged between 16 and 35 years old.Â
The company has stores in 20 countries including Dubai, Saudi Arabia, Pakistan and Malaysia. Last year it opened 40 new shops and concessions, bringing its total to more than 300.