Fans of Canadian retailer Aritzia are about to have access to more than a chic wardrobe—the women’s fashion brand filed for a Toronto IPO yesterday, Bloomberg confirmed last night. The company won’t receive proceeds from the sale of the subordinate voting shares, according to the filing. Details about how much the IPO planned to raise weren’t released. Aritzia counts customer confidence, unemployment levels, and “rapidly shifting fashion and seasonal trends” as risk factors for investors to weigh. It’s considered a bold move, as this year was one of the slowest for Canadian IPOs, according to Bloomberg.
The company’s net revenue in the year to May 29 was $571 million, and its net income was $38 million, the report said. In the past year, it’s expanded its presence to 70 retail locations in North America.
