a.k.a. Brands Holding, which operates a portfolio of Millennial and Gen Z online fashion brands, announced terms for its IPO on Monday.
The San Francisco, CA-based company plans to raise $250 million by offering 13.9 million shares at a price range of $17 to $19. At the midpoint of the proposed range, a.k.a. Brands Holding would command a fully diluted market value of $2.3 billion.
a.k.a. states that it is a portfolio of online fashion brands built for the next generation of consumers. The company started in 2018 with the acquisition of Princess Polly, and it has since created a portfolio of complementary brands including Petal & Pup, Rebdolls, and Culture Kings. Its current brands are focused on Millennial and Gen Z consumers, and they maintain relationships with approximately 13,000 influencers globally. In 2020, across a.k.a. Brands, the company received approximately 190 million site visits with over 70% on mobile, attracted more than 6 million followers on social media, and served more than 2.2 million active customers.
a.k.a. Brands Holding was founded in 2018 and booked $352 million in sales for the 12 months ended June 30, 2021. It plans to list on the NYSE under the symbol AKA. BofA Securities, Credit Suisse, Jefferies, Wells Fargo Securities, KeyBanc Capital Markets, Cowen, Piper Sandler, and Truist Securities are the joint bookrunners on the deal. It is expected to price during the week of September 20, 2021.
