Fabletics Looks to Initial Public Offering

Athleisure brand Fabletics (El Segundo, Calif.) is reportedly working with Morgan Stanley, Goldman Sachs and Bank of America to raise $500 million in an initial public offering, reports WWD. The offering would value the brand at more than $5 billion.

Founded in 2013 by Kate Hudson, Adam Goldenberg and Don Ressler, Fabletics managed to weather the pandemic by leveraging broader interest by consumers in exercising more regularly. “We’ve learned doing research during the pandemic, over 70 percent of Fabletics customers are working out three times a week or more,” Goldenberg said.

As of last fall, Fabletics had 51 stores and reportedly aims to reach a total of 100 stores in the next few years.