Jóhannesson looks to expand high street brands with public money
Baugur may float its four fashion chains under its new Mosaic banner.

Baugur chief executive officer Jón Ásgeir Jóhannesson told the Barclays retail conference yesterday that the fashion group, comprising Oasis, Coast, Karen Millen and Whistles, was a 'prime candidate for flotation further down the road'.

Jóhannesson said an initial public offering was likely in five years. However, reports suggest the business could be working to a tighter schedule and may float in 18 months to two years.

The Mosaic business is experiencing double-digit like-for-like sales growth, said Jóhannesson, adding it is also poised for international growth. There are plans to open up to 280 international stores over the next three to four years, with the focus on Oasis and Karen Millen.

Baugur is on the hunt for further acquisitions in the UK, having already bought Hamleys, Goldsmiths and Julian Graves. Jóhannesson said he was looking at 'one or two' fashion businesses, but it was unlikely these would be added to Mosaic.

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