Step One Clothing Limited, the leading online direct-to-consumer innerwear brand, recently announced a significant development involving its founder and CEO, Greg Taylor. Taylor has agreed to sell 16,632,352 fully paid ordinary shares, representing approximately 8.97% of the company’s issued capital, in a move that reflects strong investor demand. Director and Chief Legal Officer, Michael Reddie, also participated, selling 2,014,206 shares, equating to around 1.09% of the company’s issued capital.

Despite the sales, Taylor still holds a dominant stake in the company, maintaining approximately 57.91% of its shares. He reassured investors that this move, undertaken at a price of $1.70 per share through a fully underwritten block trade, was motivated by heightened demand and the opportunity to enhance liquidity in Step One’s stock. This transaction signals growing interest from long-term investors and is expected to broaden the company’s shareholder base.

Investor Demand Fuels Sale

This partial sell-down is considered a strategic move by Taylor to meet the increasing demand from investors. Taylor’s decision to sell a small portion of his holding shows confidence in the future trajectory of Step One, a brand he continues to lead with enthusiasm and determination. Both Taylor and Reddie have committed to holding onto their remaining shares until at least the release of the company’s full-year results for the financial year ending in June 2025.

Taylor’s statement further elaborates on his belief in the company’s continued expansion: “I am excited about Step One’s growth opportunities and continue to be committed and driven to achieve our global growth ambitions,” Taylor said. His reassurance follows as the company pushes forward with its strategy of international expansion, with operations already established in Australia, the U.S., and the U.K.

Expert View: Liquidity and Investor Confidence

Experts suggest that such sales can serve as a positive indicator for investors. An analyst in retail markets, stated that the sale will likely enhance liquidity, making Step One’s stock more accessible to a broader base of investors. “aylor’s willingness to sell down his shares signifies confidence in the company’s ability to attract new shareholders, which often results in a more stable share price,” said the analyst.

As Step One continues to grow, this partial sale is expected to support the company’s journey toward reaching its global growth ambitions.

Step One’s Expansion

The company is known for its innovative approach to innerwear, providing high-quality, sustainable products tailored to a broad range of body types. It has grown from a homegrown brand in Australia into a multinational operation with a presence in the U.S. and U.K. Its products, certified as organic and ethically manufactured, have resonated with a loyal customer base, driving international expansion.

  ASX, Australia, Greg Taylor, Michael Reddie, Step One Clothing Limited, U.K., U.S.