Womenswear retailer Reformation launches IPO targeting up to $239m

Permira-backed womenswear retailer Reformation has launched its archetypal nationalist offering, aiming to rise arsenic overmuch arsenic $239m.

The institution is offering 14.06 cardinal shares of communal banal priced betwixt $15 and $17 apiece.

Of the full shares connected offer, 9.47 cardinal volition beryllium issued straight by the company, with the remaining 4.58 cardinal coming from existing stockholders who are selling down their holdings.

Underwriters are acceptable to beryllium granted a 30-day enactment allowing them to bargain a further 2.10 cardinal shares astatine the connection price, minus applicable discounts and commissions, with these further shares besides being supplied by the selling stockholders.

As is modular for offerings of this kind, completion remains contingent connected marketplace conditions, with nary warrant fixed implicit whether the listing volition proceed, nor implicit its eventual size oregon pricing.

The institution has secured support to database its shares connected the New York Stock Exchange nether the ticker REF.

JP Morgan and Morgan Stanley are serving arsenic associated pb bookrunners portion Citigroup and RBC Capital Markets presume associated bookrunner roles.

Reformation lodged its registration connection with the US Securities and Exchange Commission past month.

Established successful 2009, Reformation runs 70 carnal stores spanning the US, UK, Canada and France, alongside an online store that ships to customers successful much than 150 countries.

Sales made straight to consumers represented 90% of the company's nett gross successful 2025.

Its progressive lawsuit basal passed the 1 cardinal people past year, climbing to 1.14 cardinal by the extremity of March.

Financial results amusement gross of $507.1m for the twelvemonth ended 27 December 2025, an summation from $438.2m the twelvemonth before.

Net profit, however, declined to $12.6m from $33m implicit the aforesaid period.

In the archetypal quarter, covering the play to 28 March, Reformation recorded a nett nonaccomplishment of $12.1m against gross of $112.3m, compared with a nett nonaccomplishment of $5.6m connected gross of $86.1m successful the equivalent 4th a twelvemonth earlier.

"Womenswear retailer Reformation launches IPO targeting up to $239m" was primitively created and published by Retail Insight Network, a GlobalData owned brand.