Boohoo.com Launching £560m IPO in One Week

British online fashion retailer boohoo.com has confirmed that will launch its initial-public-offering on 14 March and valued it at £560m.

Only one week after the group revealed it has snapped up a board member from its main rival, asos.com, it revealed that it will list on London's Alternative Investment Market.

The company is majority owned by its founders as the Kamani family holds approximately 44% of boohoo.com's enlarged share capital.

Boohoo.com, which targets the online 16-24 year-old consumers fashion market, recently hired retail veteran Peter Williams as its new Chairman.