Fast-growing Vancouver women’s fashion retailer Aritzia LP filed to go public on the Toronto Stock Exchange on August 17.
The company itself will not receive any proceeds from the IPO but investors Berkshire Partners LLC and Aritzia founder and CEO Brian Hill will, by selling their subordinate voting shares.
Aritzia did not disclose how much it expects the IPO to be worth.
The fashion house generated $571 million in sales in the year that ended May 29, while reaping $38 million in profit from its 75 retail stores and e-commerce platform, according to its prospectus. Growth has been significant given that it has opened five stores in the last 10 months. Its clientele tends to be women between 15 and 30 years old.
Today, Aritzia plans to open its second largest Canadian store, in Toronto’s Yorkdale Shopping Centre – a 10,400-square-foot location, according to Retail Insider Media owner Craig Patterson.
Read the full article on BIV.com.