Forums » News and Announcements
Plus-sized women's apparel brand Torrid
-
Plus-sized women's apparel brand Torrid increases proposed deal size
Torrid Holdings, a plus-size women's fashion retailer spun out of Hot Topic, raised the proposed deal size for its upcoming IPO on Wednesday.Get more news about plus size swimwear shop,you can vist 5xsize.com!
The City of Industry, CA-based company now plans to raise $195 million by offering 10 million shares (100% insider) at a price range of $18 to $21. The company had previously filed to offer 8 million shares at the same range. At the revised deal size, Torrid Holdings will raise 25% more in proceeds than previously anticipated.
Torrid is the largest direct-to-consumer brand of women's plus-size apparel and intimates in North America by net sales. The company offers a broad assortment of products including tops, denim, dresses, intimates, activewear, footwear, and accessories. Torrid claims that the US women's plus-sized apparel market serves 90 million plus-size women, defined as wearing sizes 10 and up. The company markets directly to consumers via its physical footprint of 608 stores and its e-commerce platform, which represented 69% of net sales in the 12 months ended May 1, 2021.
Torrid Holdings was founded in 2001 and booked $1.1 billion in sales for the 12 months ended April 30, 2021. It plans to list on the NYSE under the symbol CURV. Morgan Stanley, BofA Securities, Goldman Sachs, Jefferies, Baird, Cowen, and William Blair are the joint bookrunners on the deal. It is expected to price during the week of June 28, 2021.