The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
NEW YORK, United States — Resale clothing firm ThredUp Inc said on Wednesday it has confidentially submitted paperwork with the U.S. Securities and Exchange Commission for an initial public offering of its Class A common stock.
The size and price range of the offering have not yet been determined, the company said.
The firm's proposed IPO comes amid record high investor demand for new stocks.
Companies have raised roughly $114 billion in U.S. IPOs so far in 2020, comfortably outpacing a $62.5 billion haul for all of 2019, and is already the biggest year for new listings in recent memory, according to data from Dealogic, which has tracked IPO data since 1995.
ThredUp received $175 million in funding in August last year, which it said would be used to expand its platform to offer resale clothing services to retailers.
Till date, the company has raised roughly $340 million in funding from investors such as Goldman Sachs, Highland Capital Partners and Redpoint Ventures, according to startup data platform PitchBook.
By Niket Nishant; editor: Shailesh Kuber.
In 2020, like many companies, the $50 billion yoga apparel brand created a new department to improve internal diversity and inclusion, and to create a more equitable playing field for minorities. In interviews with BoF, 14 current and former employees said things only got worse.
For fashion’s private market investors, deal-making may provide less-than-ideal returns and raise questions about the long-term value creation opportunities across parts of the fashion industry, reports The State of Fashion 2024.
A blockbuster public listing should clear the way for other brands to try their luck. That, plus LVMH results and what else to watch for in the coming week.
L Catterton, the private-equity firm with close ties to LVMH and Bernard Arnault that’s preparing to take Birkenstock public, has become an investment giant in the consumer-goods space, with stakes in companies selling everything from fashion to pet food to tacos.