American plus size apparel retailer Torrid LLC has filed a Form S-1 registration statement with Securities and Exchange Commission and thereby given a distinct indication of going for an initial public offering (IPO).
This was confirmed through a company press release. However, number of shares offered or the price details weren’t revealed.
In case the company follows through, Torrid’s ticker symbol – as per the filing – would be CURV.
What’s notable about the move by the retailer is that the proposal comes two years after withdrawing such a registration statement.
Here it is important to state that even if Torrid goes public, Sycamore Partners will still, reportedly, own majority of the voting power of shares eligible to vote in the election of directors.
Two years back when Torrid had planned for IPO, Sycamore Partners had not been supportive mainly because the brand had decided to regroup amidst sluggish growth in sales in apparel market in addition to disruption to plus size market in particular.
Torrid has over 600 stores in operation across 36 states in the United States and majorly sells intimate apparels, accessories, fashion tops, pants, Capri, shoes, novelty T-shirts, pants, shorts and skirts, amongst others.