The country’s Securities Regulatory Commission has announced its approval of Aimer’s request to go public.

The 40-year-old Beijing-based lingerie maker caters to China’s high-end market, which has become competitive in recent years as digitally-savvy local brands challenge global labels like Victoria’s Secret and La Perla on their home turf. Three homegrown underwear brands have already listed: Huijie Group, Embry Group and Cosmo Lady. According to local media outlets, Aimer is looking to raise 761 million yuan (around $117 million) to strengthen its marketing and data capabilities as well as invest in production in Vietnam.