Owner of Answear.com, the leading digital clothing sales platform in Central and Eastern Europe, submitted the prospectus for approval by the Polish Financial Supervision Authority (KNF). The company wants to debut on the main market of the Warsaw Stock Exchange. The debut is planned for the end of 2020.
Answear.com is an online sales platform with branded clothing, footwear and accessories, which has been operating since 2011. The company currently operates in seven countries of Central and Eastern Europe: Poland, the Czech Republic, Slovakia, Hungary, Romania, Bulgaria and Ukraine. Sales are geographically diversified, and none of the markets accounts for more than 30 percent of share in the total revenues.
“Answear.com will soon join the group of public companies. This is a natural step related to the dynamic development of the business, the already large scale of operations and an even greater appetite for the future,” Krzysztof Bajołek, CEO of Wearco (the company is in the process of changing its name to Answear.com).
The store offers about 80,000 products from over 350 global brands. Premium brands are an important part of the offer (e.g. Diesel, Guess Jeans, CK, Tommy Hilfiger, Valentino, DKNY). Lower-end products are mainly based on Answear LAB's own brand.
“We are the first player in the segment of electronic clothing and footwear sales on the markets of Central and Eastern Europe. Thanks to this, we achieve an advantage in the field of brand recognition and lower marketing costs. Our customers appreciate our excellent service in the form of fast delivery, easy returns, and an attractive loyalty program. We are also beneficiaries of the rapid growth of the e-commerce market,” Krzysztof Bajołek added.