Lulu's Fashion Lounge Holdings, which operates an online retail platform for women's apparel and accessories, filed on Tuesday with the SEC to raise up to $100 million in an initial public offering.
Lulus states that it is a customer-driven, digitally-native fashion brand primarily serving Millennial and Gen Z women. The company engages consumers across the web, on social media and across its platform, through reviews, feedback, and one-on-one interactions with its Style Advisors, Fit Experts, and Bridal Concierge. As of October 3, 2021, Lulus had more than 7.5 million followers, up from 5.5 million followers as of September 27, 2020, across its social media platforms. During the twelve months ended October 3, 2021, the company served 2.5 million Active Customers.
The Chico, CA-based company was founded in 1996 and booked $282 million in sales for the 12 months ended June 30, 2021. It plans to list on the Nasdaq under the symbol LVLU. Goldman Sachs, BofA Securities, Jefferies, Baird, Cowen, KeyBanc Capital Markets, and Piper Sandler are the joint bookrunners on the deal. No pricing terms were disclosed.
