Stitch Fix, an online personal-styling service and clothing retailer, announced terms for its IPO on Monday.
The San Francisco, CA-based company plans to raise $190 million by offering 10 million shares (10% insider) at a price range of $18 to $20. At the midpoint of the proposed range, Stitch Fix would command a fully diluted market value of $2.0 billion.
Stitch Fix was founded in 2011 and booked $977 million in sales for the 12 months ended July 31, 2017. It plans to list on the Nasdaq under the symbol SFIX. Goldman Sachs, J.P. Morgan, Barclays and RBC Capital Markets are the joint bookrunners on the deal. It is expected to price during the week of November 13, 2017.
