The founder of Australian online retail giant Kogan, Ruslan Kogan, is understood to be considering an ASX listing, sources told Street Talk on Wednesday.
It's understood BRW Rich-lister Kogan is working with UBS and Canaccord Genuity with a $300 million initial public offering pegged for the second-half, subject to market conditions.
Kogan started his online empire selling TVs out of his parent's garage in 2006 and has continued his challenge to the traditional bricks-and-mortar retail giants by expanding into new private label brands.
The firm, most well known for selling electrical and computing goods, has expanded into sporting, camping/outdoors and homewares through new private brands Fortis, Komodo and Ovela.
Revenue is now at about $250 million per year, with Kogan using a combination of information technology, market analysis, logistics and efficiency to minimise costs and sell at least least 10,000 different line items. Kogan also owns a stake in online furniture store Milan Direct.
Kogan became the latest company to sell self-branded mobile services to its large base of customers last October, joining forces with Vodafone Hutchison Australia to launch a new mobile service that sells low-cost services with 3G data.
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