The summer of the disruptive IPO is in full swing.
Leading financial and industry sources speak of Allbirds, allegedly taking the plunge and confidentially filing an IPO, seeking to cash in on the trending market by leveraging its strong niche in sustainable footwear.
This follows Warby Parker, who said on Tuesday he submitted his documents for review, and brand powerhouse Authentic Brands Group, which sources say are expected to make its registration statement public next month with an offer to follow shortly. It was also reported that Rent the Runway was considering an offer.
These companies and others – like Figs, the medical scrub brand that is valued at $ 7.4 billion after its IPO last month – are taking a close look at the still-buzzing stock market. ThredUp resale experts, Poshmark Inc., clean beauty pioneer The Honest Co. as well as Dr. Martens and Mytheresa also entered the market this year.
Despite the heavy blow of the pandemic, which has sent so many buyers home and forced many customers out of business, including Neiman Marcus, J. Crew and JC Penney, Wall Street is in tears.
It’s a counterintuitive race that has been fueled by emergency government action, low interest rates and the belief that consumers will come back strong, while retaining their newfound enthusiasm for online shopping.
Although COVID-19 has killed nearly 3.9 million people worldwide, is still a real and present danger in many countries and is severely blocking supply chains, the Dow Jones Industrial Average is up 29, 8% from last year, after losing 71.34 points to 33,874.24 on Wednesday. .
Getting in the stock market is still good – and probably won’t improve much – and many companies are finally going to.
This includes disruptive darlings like Allbirds and Warby Parker who have built big names and buzz by taking a new approach to business, although the details of company size and profitability have always been a subject of debate and mystery.
The IPO would draw the curtains on the next generation of consumer companies and reveal how much their new approaches translate into market share and profits.
If these companies hit the market and impress, they could help determine where investors will choose to invest their money in the future, what characteristics the established set of publicly traded companies choose to highlight, and where. way everyone presents themselves on Wall Street.
Already, companies across the spectrum who worshiped the altar of shareholder value are talking about their purpose and how they can make a positive impact on the world – notions that Allbirds and Warby Parker, for example, have been talking about. founded.
These companies have been on the radar for a long time, but they seem to have changed course quite quickly when it comes to entering public markets.
At Allbirds, co-founder Tim Brown said at the end of February: “We have no plans for an IPO. Being a public company is a huge challenge, and at five years old, it’s still very early in our life cycle.
But that sentiment seemed to have changed in April, when the company said, “Allbirds has always been focused on building a great business and, as B Corp and Public Benefit Corporation, doing what’s best. for our stakeholders (planet, people, investors) at the right time and in a way that helps the company to grow in a sustainable way.
The company did not immediately comment on Wednesday.
When WWD first announced that Warby Parker was considering an offer in March, the company said, “We have always viewed an IPO as a funding opportunity and it’s a likely outcome at some point, although we don’t have immediate plans to go. Public. “
On Tuesday, things looked much more immediate as the company said it had “confidentially submitted a draft registration statement on Form S-1 to the Securities and Exchange Commission.”
Filing with Confidence allows companies to resolve any issues with SEC staff ahead of the big reveal – who will undoubtedly have a lot of them on the edge of their seats.
IPOs will help early investors cash in and could also raise funds that would go directly to companies to fuel their growth ambitions.
And obviously, the next generation continues to look ahead and prepare to inherit the world (or try to).
In this vein, Aliza Licht has been appointed Head of Social Media and Brand Experiences at Warby Parker, a new full-time position.
Licht, who has worked with the brand for nine months, will report to Lori Krauss, Marketing Director of Warby Parker. Licht is the Founder and President of Leave Your Mark LLC and will continue to host the ‘Leave Your Mark’ podcast and mentor the members-only community founded to cultivate professional development, networking and mentorship in the world of job. She is the author of the book “Leave Your Mark”.
Earlier in her career, Licht was Executive Vice President, Brand Marketing and Communications at Alice + Olivia for two and a half years. Prior to that, she was Senior Vice President of Global Communications at Donna Karan International, where she worked for 17 years. For six years, she was the voice of DKNY PR Girl, the social media personality.
“I have been a long-time fan and customer of the brand, and after working with the company for the past nine months as a consultant, I have fallen in love with the mission and the corporate culture. It’s a truly special and innovative place to work, and I feel honored to join the team and take on this new role of social media and brand experiences, ”said Licht.
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