Gear 4 Music one of the UKs biggest online guitar retailers has floated on the stock market.
Have you ever dreamed of owning a guitar shop but failed to make it a reality, well stop dreaming because now you have the chance. , the Yorkshire based musical instrument retailer, has recently taken the bold step of listing on AIM to raise further money to fund its dreams of European expansion. Although not solely a guitar shop, Gear 4 Music sells 27,000 different musical instruments and products, it stocks one of the biggest range of guitars in the UK.
Established by Andrew Wass over 20 yeasr ago Gear 4 Music is one of the UKs biggest musical instrument retailers. It has over 590,000 registered customers and 19 websites in 15 different languages offering 8 currency options. Last year it managed to increase sales by 34% to £24.2m.
Mr Wass sold a stake in Gear 4 Music in 2012 to private equity firm Key Capital Partners raising £3.4m. Wass used the funds gained in selling off a stake in his business to finance Gear 4 Music’s ecommerce platform and European expansion. Following this investment European sales jumped by 87% last year to £5.5m while UK revenues lifted by 27% to £18.7m, resulting in full year earnings of £1.19m.
With 28,423 products for sale and 590,000 registered customers Gear 4 Music is one of the UKs biggest musical instrument retailers.
Gear 4 Music said that it believes the UK retail market for musical instruments is worth around £750m, of which around £150m was already online. The musical instrument retail market is highly fragmented with the top six companies only accounting for 16pc of the British market. Wass believes that there is scope for gaining a greater share of this market by expansion on-line and opening further shops. Following the stock market floatation Gear 4 Music plan to open a London store.
So if you have ever dreamed of owning a guitar shop now you can. If you have a share dealing account you can invest directly in Gear 4 Music and proudly claim that you own a slice of a leading UK based guitar retailer.
As of the 5th June 2015 the share price of Gear 4 Music stands at 140p.
To find out more check out the Gear 4 Music website.
Get more stuff like this
Subscribe to our mailing list and get interesting stuff and updates to your email inbox.
Thank you for subscribing.
Something went wrong.