Business / news
Reformation Files for IPO After Surpassing $500M in Sales
The Los Angeles-based womenswear brand has filed for an initial public offering on the New York Stock Exchange, citing 20 consecutive quarters of double-digit revenue growth.
Reformation, the direct-to-consumer fashion label known for its sustainable positioning, has submitted paperwork for an initial public offering on the New York Stock Exchange. The company revealed in its filing that it exceeded $500 million in annual sales while maintaining profitability, a rare feat in the current apparel market.
The brand has reported double-digit revenue increases for 20 straight quarters, a streak it attributes to strong customer loyalty and efficient operations. Reformation operates primarily online but also runs brick-and-mortar stores in key U.S. cities.
The IPO comes as the fashion industry faces headwinds from shifting consumer spending and rising costs. Reformation is positioning itself as a premium yet accessible womenswear label with a focus on environmental commitments.
The company did not disclose the number of shares to be offered or the expected price range in its initial filing. Underwriters for the offering have not been named.
Reformation was founded in 2009 in Los Angeles and has since grown into a prominent direct-to-consumer player, competing with both traditional retailers and newer digital-native brands.