Reformation reportedly preparing for IPO filing

LA-based womenswear brand Reformation is believed to be preparing to confidentially file an initial public offering (IPO) in the coming week, with plans to potentially go public in July, according to the Wall Street Journal.

Reports suggest that the company has been mulling an IPO for years, with rumours of such discussions spanning as far back as 2023, when Bloomberg reported on a potential public listing.

The brand is said to be on track to rake in more than 500 million dollars in revenue this year, an increase of 40 percent on its 2023 turnover.

Sales are largely driven by its direct channels, with 70 stores located globally, including five in London. It also operates via retail partners like Selfridges, Harvey Nichols and Liberty.

Founded in 2009, Reformation has remained under the majority ownership of Permira since 2019. At the time, stakes in the business were retained by CEO Yael Aflalo, president Hali Borenstein, and investor Stripes Group, which remained a partner.

The brand emphasises a commitment to sustainable materials, and operates via a vertically integrated model for both manufacturing and distribution.