Rue Gilt Groupe, which operates discount luxury fashion e-tailers RueLaLa and Gilt, filed on Friday with the SEC to raise up to $100 million in an initial public offering.
Operating primarily through RueLaLa and Gilt, Rue Gilt Groupe states that it is a leading premium and luxury off-price e-commerce company in the US, delivering a daily curated, high-end shopping experience for its members. The company offers over 5,000 premium and luxury brands at deeply discounted prices, and its daily boutique popups showcase new sales events with a curated selection of brands. Its model presents limited quantities of merchandise for a limited time, driving high visitation frequency and increased order conversion. Since inception, Rue Gilt has transacted over $5.0 billion in gross merchandise value on its platform.
The Boston, MA-based company was founded in 2007 and booked $702 million in sales for the 12 months ended September 30, 2021. It plans to list on the Nasdaq under the symbol RGG. Rue Gilt Groupe filed confidentially on August 20, 2021. Citi, BofA Securities, Wells Fargo Securities, Cowen, Piper Sandler, and William Blair are the joint bookrunners on the deal. No pricing terms were disclosed.
