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The Glasgow-based company has said that it will use proceeds from the listing to accelerate its growth and allow the company's founders, Tarak Ramzan and his family, to partly cash out of the business. The company has also announced that it is bringing on board JD Sports boss Peter Cowgill as its non-executive chairman. The publicity-shy Mr Cowgill is nevertheless widely respected in the City for capitalising on the booming 'athleisure' trend which has prompted a leap in profits and sales. Quiz's plans for a stock market listing comes at a time when traditional high street retailers' growth is being eclipsed by new fast-fashion players which are explicitly targeting social media savvy millennial shopper s. Since listing in 2014 Boohoo's shares have jumped by 379.4pc to value the business at £2.8bn while highly-rated Asos is now worth £5bn. Online sales at Quiz jumped by 118pc last year, according to the company and it relies heavily on a "test and repeat" fast supply chain, which is also used by Boohoo to replicate best-selling items and respond to new trends. City analysts have said that this gives online players a huge advantage over traditional retailers, which tend to buy season collections six months in advance. Last year Quiz posted sales of £87.4m while pre-tax profits grew by 17pc to £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 £10.3m. The business was originally started by Mr Ramzan’s father, Mohammed, who moved to Scotland from Pakistan in 1947 and set up a factory making kilts, duffle coats and tartan pinafores.
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