Canadian fashion chain Aritzia reportedly in discovery stage for 2016 IPO

Canadian fashion retailer Aritzia LP is working with banks to prepare for an initial public offering as soon as this year, according to people familiar with the matter quoted by Bloomberg.

Canadian Imperial Bank of Commerce, Toronto-Dominion Bank, and Bank of America Corp have been the ones reportedly chosen by the Vancouver-based retailer to explore different timings and settings for the company´s initial public offering (IPO) of shares.

Sources close to the matter advanced as well that the fashion retailer could file preliminary paperwork with regulators as early as this week.

Aritzia’s shares are likely to trade on the Toronto Stock Exchange.

Eleven years ago, Boston-based private equity firm Berkshire Partners LLC bought a majority stake in the company for an undisclosed sum.

Launched in Vancouver in 1984, Aritzia has more than 70 retail locations across North America, including in New York, Toronto, Montreal, Boston, Chicago, and San Francisco, according to its website. The company sells clothes and accessories aimed at 15-to-30-year-old female shoppers.