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Report: Sportswear Brand Fabletics Preps for IPO

Fabletics sportswear collection. Getty Images.
Fabletics sportswear collection. Getty Images.

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.

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