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RealReal founder and CEO Julie Wainwright will speak at Vanity Fair's founders' fair at 1 Hotel Brooklyn Bridge on April 20, 2017 in Brooklyn, New York.
Andrew Toth | Getty Images Entertainment | Getty Images
The American online luxury retailer The RealReal filed an initial public offering on Friday.
The company intends to list on the NASDAQ under the symbol "REAL" a deposit with the US Securities and Exchange Commission.
Earlier in January, Reuters announced that the company plans to become public later this year, citing sources close to the subject.
The company has set a reserve amount of $ 100 million to indicate the size of the IPO. The size of the preliminary deposits is used to calculate the registration fees and the final amount may be different.
According to the PitchBook data provider, RealReal, which specializes in second-hand luxury online clothing and luxury goods, was valued at US $ 745 million last July.
Founded in 2011, The RealReal's success is based on a profitable combination of e-commerce boom and the interest of a younger clientele for bargains and recycled clothing.
Second-hand fashion – from Chanel handbags to Rolex dresses to Gucci dresses – is a growing business that surpbades sales growth in the luxury goods sector.
Over the past year, the company has focused on expanding its physical presence with outlets in new areas and more and more online distribution centers.
RealReal intends to use the funds raised during the IPO for the general needs of the company, including working capital and operating expenses. .
The San Francisco-based company's investors include Perella Weinberg Partners and Great Hill Partners.
The company recorded a net loss of $ 75.8 million in 2018, compared to a loss of $ 52.3 million in 2017, for a turnover of $ 207.4 million, up from $ more than 55%.
Credit Suisse, BofA Merrill Lynch, UBS Investment Bank, KeyBanc Capital Markets, Stifel, Cowen and Raymond James are the underwriters of the IPO.
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