Kate Hudson’s apparel brand Fabletics, is in the process of securing a bank for an IPO.
According to a recent article in the WSJ, the workout-clothing company could be valued upward of $5 billion. Fabletics was founded in 2013 by Adam Goldenberg and Don Ressler and is owned by TechStyle Fashion Group. The brand aims to fill a void in the market between high-end brands such as Lululemon and less expensive brands. The Group has selected Morgan Stanley, Goldman Sachs Group Inc., Barclays Plc and Bank of America Corp. for the IPO. Fabletics would be one more emerging consumer-focused brand entering a hot IPO market. Other recent IPO’s include the healthcare apparel startup Figs Inc. Figs, which specialized in better fitting scrubs, began trading less than two months ago and has a roughly $6 billion valuation. The stock has remained above its IPO price even after shares tumbled.