Lulu's files for IPO

Fast-fashion brand Lulu’s has filed for an IPO. The California-based company is profitable generating between 104 million and 106 million dollars in net revenue and 50 million dollars in gross profit for the three months ending October 3. The news was reported by Business of Fashion.

Lulu’s was originally a vintage boutique, but became an e-commerce business in 2008. The brand releases a full collection of new styles every week and takes a data-driven approach to figuring out what to keep producing.

Goldman Sachs & Co. LLC, BofA Securities and Jefferies are acting as joint lead book-running managers for the proposed offering, with Baird, Cowen, KeyBanc Capital Markets and Piper Sandler acting as book-running managers and Telsey Advisory Group acting as co-manager for the proposed offering. The Company intends to apply to list its common stock on the Nasdaq Global Market under the ticker symbol “LVLU.” The number of shares to be offered and the price range for the proposed offering have not yet been determined.