The Kate Hudson-backed company has tapped banks with an eye to going public, The Wall Street Journal reports. The company, which is owned by TechStyle Fashion Group, is targeting a valuation of more than $5 billion, according to the report, which cites people familiar with the matter.
The company declined to comment.
Further Reading: How to Win the Pandemic’s Activewear Boom
Workout clothes have been a bright spot in the struggling apparel sector this year, but independent brands need to play smart to turn the current bump into long-term success.