- Prachi Singh |
Madewell, fast growing brand under the J.Crew group has filed a registration statement relating to the proposed initial public offering of its common stock. The company Chinos Holdings, Inc. will now be renamed Madewell Group, Inc.
In a filing late Friday, Madewell did not list an IPO price or say when it plans to go public but said that Chinos Holdings expects to use the proceeds of the IPO to repay indebtedness and for general corporate purposes.
Madewell is a premium denim brand for women and men, which currently operates 133 retail stores across the United States. Madewell reported over 600 million dollars in sales during its 2018 fiscal year, up from 248 million in 2014 dollars, while recording net income of 60 million dollars last year, up from 45 million dollars in 2017 and 12 million dollars in 2016, according to the filings.