‘Fast fashion’ retailer Quiz announced plans to float on the AIM market on Thursday, in an IPO expected to be worth around £200 million.

Scottish-based Quiz, who recently signed JD Sports chief executive Peter Cowgill as chairman, are hoping to list on London’s junior market in order to boost expansion and allow its founders to cash out part of their stake in the company.

Should the company IPO at its expected £200 million, chief executive and founder Tarak Ramzan is likely to take home around £100 million.

Quiz currently has 73 stores in the UK as well as 167 concessions in department stores such as Debenhams and House of Fraser. Last year the retailer made an operating profit of £10.3 million, with revenues jumping by 21 percent to £89.8 million.

Ramzan said: “Quiz is a strong and distinctive omni-channel fashion brand with a clear customer and product focus.

“Fast fashion is in Quiz’s DNA and our ‘just in time’ model ensures that we are always responding in real time to new trends as they emerge.

“I am very confident that we have a well-invested infrastructure, a fantastic team and a clear strategy to accelerate further the growth of the Quiz brand across all channels and markets.”