Notonthehighstreet, the online platform specialising in design-led decorations, fashion and gifts, is being tipped for a stock market flotation following the appointment of former Carpetright chief executive Darren Shapland as chairman.
The change at the top is being seen as a statement of intent by a retailer keen to announce its arrival as a serious player in the market having been launched from a kitchen table ten years ago as an alternative platform for designers to sell their wares.
It follows a number of recent changes at the firm, founded by Holly Tucker and Sophie Cornish, including the appointment of Simon Belsham, Tesco’s former head of online operations, as chief executive.
Serving as an intermediary between more than 5,000 small businesses and the internet the website has grown to accommodate 170,000 products which generate turnover of £127m between them.
In a statement Notonthehighstreet remained adamant that it had ‘no current plans’ to float.