Yesterday (February 2) saw leading online greeting card and gift retailer Moonpig make its debut on the Stock Exchange, with a market valuation of £1.2bn.
With the pandemic accelerating a surge in demand for online cards and gifts, ambitious plans are afoot to secure new opportunities for the company.
The company recently highlighted that the sale of gifts – such as flowers, wine and chocolates – alongside cards, is critical to the Moonpig Group, currently representing almost half of the business and accounting for 46% of its sales in the 12 months to October 31, 2020.
In a statement, Moonpig’s ceo Nickyl Raithatha commented: “As the leaders of a market undergoing an accelerating shift to online, now is the perfect time for us to bring the company to the public market, and we are excited about Moonpig’s prospects for the future.”
The company floated with a share price of £3.50, which swiftly jumped by 25%.Unconditional trading will start on February 5.
Top: Moonpig is planning to expand its gifting offer.
