Saudi Fashion Brand Jamjoom to Launch IPO
Jamjoom Fashion Trading Company has announced its intention to list shares on the Saudi parallel market Nomu. The company is well-known for its diverse portfolio of fashion brands, including Nayomi, an intimate apparel label, and Mihyar, which focuses on menswear.
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IPO Details
- Shares Offered: Jamjoom will offer 2.38 million shares, representing 30% of its total share capital.
- Price Announcement: The price range will be revealed on September 1, with subscriptions open from September 1 to September 4. The final offer price will be confirmed on September 9.
- Investor Eligibility: The offer will be exclusively available to qualified investors.
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Financial Performance
In the nine months ending June 2025, Jamjoom reported:
- Net Profit: SR94.3 million after Zakat.
- Revenues: SR540.4 million, reflecting growth compared to the same period in 2024.
- Net Margins: Increased from 11.4% for the financial year ending September 2023 to 13.4% a year later, reaching 17.5% by June 2025.
Growth Prospects
Kamal Osman Jamjoom, the founder and Chairman, highlighted the company’s transformation from a single store to a multi-brand apparel and lifestyle group. Key growth factors include:
- Demographics: Saudi Arabia’s young population, with a median age of 30.5 in 2023.
- Female Workforce Participation: Increasing involvement of women in the workforce is driving demand for fashion and beauty products.
- Retail Infrastructure: Government-backed initiatives are expanding retail infrastructure and enhancing consumer demand, along with a prevailing “mall culture.”
- Government Policies: Recent dress code policies for public employees and educators are expected to sustain demand for traditional clothing.
Market Outlook
- Womenswear Market Growth: Expected to grow at a CAGR of 3.3% from 2023 to 2029, with significant growth among the 18-34 years demographic.
- Menswear Market Growth: Projected to experience a CAGR of 4% during the same period.
The IPO positions Jamjoom to capitalize on these favorable market trends and contribute to the evolving retail landscape in Saudi Arabia.
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