Online Clothing Retailer Revolve Prepares IPO For Late 2018
Revolve, the Los Angeles-based online clothing retailer, is preparing for an initial public offering of stock in late 2018, according to people familiar with the company’s plans. The retailer, known for selling designer brands through its website, last week met with bankers who came to pitch for roles underwriting the company’s IPO, the people said. The deal is expected to value Revolve well in excess of $1 billion, they added. Should it move forward with an IPO this year, Revolve could seek to capitalize on investors’ excitement over another online retailer, Stitch Fix, which in its brief life as a public company so far has debunked worries over whether online retailers can successfully compete against Amazon.com Inc. Stitch Fix, which selects and ships outfits for more than two million clients and made its debut in November 2017, is trading 65% above its $15 IPO price. Read more at Yahoo Finance.
