Wall Street can buckle up as Los Angeles women’s brand Reformation is set to begin trading on the New York Stock Exchange Thursday.
The company said it is pricing its shares at $15 and will trade under the ticker REF.
Wednesday’s update comes in at the low end of the range Reformation revealed last week when it said it expected its IPO to be priced between $15 and $17 per share.
The IPO will test investor appetite for a sustainable women’s apparel brand and is the first time since 2021 that a California fashion brand is looking to raise money through the public markets.
The last time a California fashion company went public was 2021 when San Francisco sustainable footwear brand Allbirds kicked off its IPO, also at $15 per share.
Allbirds has since made the unlikely transition to an artificial intelligence-focused company, after it was sold in March to American Exchange Group for $39 million.
Going public could give Reformation the runway to grow at a speedier clip when it comes to its company-owned store footprint and its wholesale business. Direct-to-consumer is how the company first started, making that business its largest.
Reformation, founded in 2009 by board member Yael Aflalo, counts 15 retail accounts that’s placed the brand in 142 doors. Meanwhile, the company operates 70 of its own Reformation stores that are heavily touted for their tech-savvy backbone.
Reformation reported net revenue rising 16 percent last year to $507.1 million. Meanwhile, the company’s 2025 net income narrowed to $12.6 million, compared to 2024’s $32.9 million.
Be First to Comment