Fashion women's clothing brand Reformation (REF.US) IPO price set at $15-17 per share, intending to raise $239 million.

Fashion brand Reformation Inc. and shareholders, including private equity firm Permira, plan to raise up to $239 million through an IPO. According to a filing submitted to the U.S. Securities and Exchange Commission (SEC) on Monday, Reformation and existing shareholders plan to issue approximately 14 million shares of stock, with an offering price range of $15 to $17 per share. At the top end of the offering price, the company would have a market value of around $1 billion. The IPO is expected to be priced on July 29. Financial data shows that for the 13 weeks ending on March 28, Reformation achieved revenue of $112.3 million, higher than the $86.1 million in the same period the previous year; net loss was $12.1 million, further widening from $5.6 million in the previous year. However, the company's profitability remains at a high level. During the reporting period, Reformation's gross profit margin reached 70.3%, with a significant increase of around 9 percentage points mainly benefiting from tariff refunds under the International Emergency Economic Powers Act (IEEPA). Founded in 2009, Reformation specializes in sustainable fashion for women, with environmentally friendly supply chains and digital shopping experiences as its core competencies. According to the prospectus, around 90% of the revenue in 2025 will come from the direct-to-consumer (DTC) channel. By 2025, the company's DTC channel active customer base is expected to surpass 1 million, increasing to approximately 1.14 million as of March 28 this year. The IPO is being underwritten by JPMorgan (JPM.US) and Morgan Stanley (MS.US) as joint lead underwriters. Reformation plans to list on the New York Stock Exchange under the ticker symbol "REF".