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Rue Gilt Groupe Joins Retail IPO Parade

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Rue Gilt Groupe, the parent company of the parent company of Rue La La and Gilt Groupe, has filed for an IPO with the goal of a $100 million valuation. The company aims to leverage its curated product selection to drive future success.

Rue Gilt Groupe currently has more than 1 million active buyers, of which 40% are between the ages of 18 and 44. Among these customers, 72% visit the brand’s mobile apps or websites at least quarterly, 59% at least monthly and 39% at least weekly.

In 2019, Rue Gilt Group partnered with Simon Property Group to launch an online marketplace, ShopPremiumOutlets.com, which features selections from brands such as Saks OFF 5TH, Karl Lagerfeld Paris and Aéropostale. The partnership could help Rue Gilt Group benefit from Simon’s massive customer base, which includes 100 million customers who make 2 billion visits to Simon properties a year.

Risk factors cited in the filing include a potential inability to reach profitability in the future. The company has reported annual losses since it was formed in 2018, reaching $15.9 million in 2019 and $16.3 million in 2020. Rue Gilt Group also experienced a net loss of $12.6 million in the nine months ending Oct. 2, 2021.

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This year has been hot for retail IPOs, including:

  • Allbirds, which debuted in early November 2021 to a valuation of approximately $4.1 billion;
  • Claire’s, which is aiming for a $100 million valuation as the brand seeks to expand outside of malls; and
  • Guitar Center, which reportedly filed for a confidential IPO in September 2021 — less than one year after exiting bankruptcy.

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