Womenswear e-tailer Revolve files for 100 million dollar IPO

Online women’s apparel retailer Revolve has filed documents with the U.S. financial market regulator, the Securities Exchange & Commission (SEC), to go public. Revolve aims to raise up to 100 million dollars with the initial public offering of shares (IPO.)

Revolve Group Inc. filed documents with the SEC to raise up to 100 million dollars in an initial public offering. Revolve filed confidentially on July 18, as reported by ‘Nasdaq’. Morgan Stanley, Credit Suisse, and BofA Merrill Lynch are the joint bookrunners on the deal. No pricing terms were disclosed.

The fashion online platform plans to list its initial public offering on the New York Stock Exchange under the symbol RVLV.

The Californian company was founded in 2003 and reported 447 million dollars in sales for the 12 months ended June 30, 2018, according to ‘Seeking Alpha’. The financial publication also shared the latest company’s public records: 399.6 million dollars in sales for 2017, 5 million dollars in net income and 28.4 million dollars in adjusted EBITDA.

”Millenials next-generation fashion platform” revolves to go public

In its communication to the SEC Revolve calls itself the next-generation fashion retailer for millennial consumers. "Our dynamic platform connects a deeply engaged community of millions of consumers, thousands of global fashion influencers, and more than 500 emerging, established and owned brands."

The filing also gathers some key metrics from the fashion retailer’s last fiscal year. With over 7 million unique visitors per month, Revolve delivered about two-thirds of net sales at full price, retained 88 percent of net sales from the prior year’s customers. The average order value of 304 dollars offering a gross margin of 48.5 percent, as indicated in ‘Seeking Alpha’s analysis.

Image: Revolve’s official website

 

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