Lancashire-based youth footwear and apparel retailer Footasylum announced plans to float its shares on London Stock Exchange’s AIM market.

The initial public offering is expected to value the Heywood-based retailer at up to £150 million.

Trading in the firm’s shares is expected to start in November.

Footasylum CEO Clare Nesbitt, 30, said: “We are thrilled to be announcing our intention to list on AIM.

“This is a logical next step in Footasylum’s upward trajectory as we seek to build on our exciting product-led, multi-channel expansion strategy.

“We pride ourselves on being a dynamic, adaptive and fast-moving business with a strong competitive position, a great stable of third party and own brands, and a disciplined approach to delivering sustainable growth.

“We see substantial opportunities ahead across our retail, online and wholesales channels, and believe that we have the people, products and strategy to realise them.”

Footasylum said it retails “on-trend” product ranges which are predominantly aimed at 16 to 24 year old fashion-conscious customers and are sourced from an extensive stable of third party and own brands.

Its third party brands include Adidas, Nike, The North Face, Gym King, Converse, New Balance, Emporio Armani 7, Vans, Nicce London, Siksilk, Under Armour, and Calvin Klein.

Footasylum’s own brands include Kings Will Dream, Glorious Gangsta, Condemned Nation, and Alessandro Zavetti.

Footasylum was founded in 2005 by David Makin, one of the two co-founders of JD Sports Plc.

He was later joined by John Wardle, the other co-founder of JD Sports, who was CEO of Footasylum from 2008 until 2015 when he moved to the role of executive chairman.

Wardle was succeeded as CEO by Clare Nesbitt — Makin’s daughter — who joined the company in 2009 and was deputy CEO from 2012 to 2015.