Russia’s Melon Fashion Group Picks Banks to Organise its IPO

Melon Fashion Group of Russia has picked the banks that will help in the organizing of its IPO. The banks chosen by the fashion group include Sberbank CIB, VTB Capital, Goldman Sachs, and BofA. It is believed that many Russian companies are planning to hold their IPO next year. 

Sources believe that the fashion group is planning to get itself listed in the Autumn 2022 list. The CEO of Melon, Mikhail Urzhumtsev has said that it is too early to talk about an IPO. He also said that an IPO is an opportunity for a company’s development and that they are considering having one.

Melon Fashion House is a St Petersburg-based company that owns four fashion brands, including Zarina, Befree, Love Republic, and Sela. The fashion house also has around 815 stores in Russia and CIS. The company saw a growth of 66% in the first nine months of 2021, with an increase in online sales from 7% to 34% in 2020.