The fashionable women's clothing brand Reformation (REF.US) has applied for a US stock IPO, aiming to raise $200 million.

Women's clothing brand Reformation (REF.US), which focuses on direct-to-consumer (DTC) channels, submitted an initial public offering (IPO) application to the U.S. Securities and Exchange Commission (SEC) on Thursday. It is estimated that the fundraising size is expected to reach approximately $200 million. Founded in 2009, Reformation started with dresses and claims to be the world's largest sustainable fashion women's clothing brand. The company has since expanded its product line to include bottoms, tops, knitwear, and accessories. According to its disclosure, the company uses a data-driven product planning and agile manufacturing model, producing new products in small batches, testing twice a week on its website and once a week in stores. Reformation has production facilities and distribution centers in Los Angeles, and the company claims that this has significantly improved its turnover cycle compared to the industry average. In addition to its 66 physical stores, the company also generates revenue through its online DTC channel. Headquartered in Vernon, California, the company was founded in 2009 and plans to list on the New York Stock Exchange (NYSE) with the stock code "REF." The joint bookrunners for this offering include J.P. Morgan, Morgan Stanley, Citigroup, RBC Capital Markets, Guggenheim Securities, Baird, William Blair, BTIG, and Telsey Advisory Group. The company has not yet disclosed the pricing terms of the offering.