Abercrombie & Kent is reportedly considering an initial public offering (IPO) to join the stock market within 18 to 24 months.
- The luxury travel group has initiated discussions with bankers to explore the potential of going public.
- Cristina Levis, the chief executive, highlights the prospect of aligning with major luxury brands like Louis Vuitton Moet Hennessy.
- The company is weighing options between listing on the New York stock market or the London Stock Exchange.
- Recent financial backing of $500 million from Citi is set to boost the group’s global expansion efforts.
Abercrombie & Kent, a prominent name in luxury travel, is reported to be in the early stages of planning an initial public offering (IPO) with a timeframe of 18 to 24 months for its execution. The move underscores a strategic shift towards public markets, intended to elevate the group’s position within the luxury sector and potentially align its prestige with the likes of Louis Vuitton Moet Hennessy.
The chief executive, Cristina Levis, expressed to the Telegraph the potential benefits of a stock market listing, emphasizing the possibility of enhancing the brand’s visibility and stature globally. Levis noted the New York stock market as a preferable option due to the extensive analyst coverage of travel businesses and the company’s ongoing expansion in the United States.
The discussions with financial entities to facilitate the IPO indicate Abercrombie & Kent’s proactive approach in navigating the post-pandemic luxury travel boom. Despite the economic turbulence and geopolitical instability affecting the global market, the demand for high-end travel solutions remains robust, providing a fertile ground for growth.
In tandem with these plans, Abercrombie & Kent recently secured significant financial support from the investment bank Citi, amounting to $500 million. This capital injection, described as crucial by the company, is intended to streamline its financial structure and support ongoing and future global expansions. Among the travel entities under the group’s umbrella are notable names such as Cox & Kings, Crystal, and Sanctuary Retreats, which operate high-end lodges and boat tours across Africa.
Abercrombie & Kent’s exploration of a stock market listing represents a strategic step towards expanding its influence in the luxury travel sector.
