CML Group, Inc.: Going Public (A)

  • Reference: HBS-285003-E

  • Year: 1983

  • Geographic Setting: Massachusetts

  • Publication Date: Sep 22, 2023

  • Source: HBSP (USA)

  • Type of Document: Case

  • Company: $150 million sales

  • Industry Setting: Retail trade;Securities & investment banking

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Description

Describes a series of decisions confronting Charles Leighton, co-founder and chairman of the CML Group. CML is a successful participant in the leisure time industry with two lines of business: specialty retailing and recreational consumer products. The key issues in the case are: 1) Should CML Group go public? and 2) How should management select an investment banking team? In order to address these issues, the students will have to understand the strategy and performance of CML, and assess the costs and benefits of going public in that context. Then, they will have to develop a strategy for selecting an underwriting team consistent with their analysis of the first issue.