Online retailer makes good debut on Warsaw bourse

Wpis dostępny jest także w języku: polski

Dadelo, one of the largest online retailers of bicycles in Poland, floated on the Warsaw Stock Exchange on 29 December.

Shares in the company rose 6.7% on the first day of trading, amid high turnover and Dadelo raised nearly PLN 83m (€18.4m) gross from its IPO. In its IPO prospectus, Dadelo said it would use 90-92% of planned net proceeds to boost its product range to 20,000-25,000 SKUs (vs. 12 000 SKUs it currently has), and the fund to expand its warehouse infrastructure. The company reckons it currently has 1.5% the Polish market for bikes, bike parts, accessories and clothes, and aims to increase its market share to 10% in 3-5 years. Dadelo is controlled by Oponeo.pl, the largest e-tailer of tyres and alloy wheels in Poland, which acquired it in 2017.

Every fifth respondent plans to buy a bike

In a survey carried out by PMR in October 2020, only 12% of those asked said they did not plan to buy any sports goods in the following 12 months. Sports shoes were the most common planned purchase, mentioned by nearly 60%, with sports clothes a close second. Nearly a quarter planned to buy a bicycle.