Rue Gilt Groupe, which operates discount luxury fashion e-tailers RueLaLa and Gilt, withdrew its plans for an initial public offering on Thursday. It originally filed in November 2021 with a proposed deal size of $100 million. The company had not updated its prospectus since its initial filing.
Operating primarily through RueLaLa and Gilt, Rue Gilt Groupe states that it is a leading premium and luxury off-price e-commerce company in the US, delivering a daily curated, high-end shopping experience for its members.
The Boston, MA-based company was founded in 2007 and booked $702 million in sales for the 12 months ended September 30, 2021. It had planned to list on the Nasdaq under the symbol RGG. Citi, BofA Securities, Wells Fargo Securities, Cowen, Piper Sandler, and William Blair were set to be the joint bookrunners on the deal.
