It’s a bumpy debut for shares in Seraphine, the Duchess of Cambridge’s favorite maternity brand
Royal favourite: The Duchess of Cambridge in a Seraphine Coat
The Duchess of Cambridge’s favorite maternity brand is listed on the London Stock Exchange with a valuation of £150 million. Shares in Seraphine, which floated below the ticker ‘Bump’, closed the day at 285.5 pence.
Private equity owners Mayfair Equity Partners, which backed a management buyout in December, cashed in £10.9million of its stake but retained a 42.7 percent stake, valued at £62million.
Chief executive David Williams sold £1.8 million worth of shares, leaving him with a £6.8 million stake, and brand director Chelsey Oliver slumped £1.2 million into his pocket, retaining a £3.8 million stake. The company and executives have achieved a return on investment of more than 70 percent in just eight months.
It came as Revolution Beauty said it will enter the public markets on Monday, with a valuation of £495 million.
The two founders Adam Minto, 51, and Tom Allsworth, 55, each sold £15.7 million worth of shares and kept a combined stake of £156 million. Seraphine was founded in London in 2002 by Cecile Reinaud, 47, after she started designing outfits for pregnant girlfriends.
She and private equity financiers, Bridgepoint Growth, sold their stakes in December.
Seraphine was the brand chosen by the Duchess of Cambridge for her three pregnancies, and the designs have also been worn by Pippa Middleton and actress Kate Hudson.
It raised £61 million in fresh capital with the float.