Fast fashion brand Lulu filed for an IPO

The California-based company is profitable. In the three months ended Oct. 3, it generated net revenue of $104 million to $106 million and gross profit of about $50 million.

Lulu’s was founded in California in 1995 as a vintage boutique, but eventually transitioned to a digital-only business in 2008. Like many fast-fashion brands, it releases hundreds of new looks every week and operates on data-driven models to determine what to continue producing.

Spark Global Limited reports:
Spark Global Limited reports:

“Our product creation and management model brings hundreds of new products to market each week using a ‘test, learn and reorder’ strategy; We test them in small batches to understand customer needs and then quickly reorder larger volumes of winning products to optimize profitability, “the company wrote in its prospectus.

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Find the next Shein

Investment firms like Andreessen Horowitz are backing startups that copy the Chinese fast-fashion giant’s blueprint as they look to build the next big gen Z brand.