has made a positive debut on London’s Alternative Investment Market (AIM), this morning.

With shares placed at 50p each, early trading saw them rise to 80p, before falling slightly to 78.63p.

The 50p placing valued the Manchester-based online fashion retailer at £560m, with an initial public offering raising £300m.

Should the shares hold their 80p price, it would value the company at almost £900m.

The company, which was founded in 2006, is aimed at the 16-24-year old market, selling own brand clothing, shoes and accessories.