OKA Direct is looking to incentivise key personnel after issuing growth shares in the emerging furniture and homewares chain.

The retailer — which during 2014 has hired Octavia Morley as CEO and Peter Chappelow as chairman respectively — has issued 1.3m new shares in the business.

The growth shares have only a nominal value and no voting or dividend rights at present, though that will change once the firm’s remaining stock is valued at around £20m.

Growth shares are considered an excellent way of getting equity in the hands of key employees, but ensuring they only benefit once the value of the business has appreciated.

OKA grew pro-forma sales by just under 10 per cent to around £20m in 2013–14 and trades online and from 11 UK stores.