Rue Gilt Group, Inc.
(Note: Rue Gilt Groupe, Inc. withdrew its IPO plans in an SEC letter dated Oct. 13, 2022. The company filed its S-1 in November 2021, but it never updated the filing to disclose IPO terms. Rue Gilt Groupe, Inc. submitted confidential IPO documents on Aug. 20, 2021.)
Our mission is to provide the most engaging online, off-price style destinations connecting world-class premium and luxury brands to the next-generation shopper. (Incorporated in Delaware)
We are the leading premium and luxury off-price eCommerce company in the U.S., delivering a daily curated, high-end shopping experience for our members. We operate primarily through RueLaLa and Gilt (“Rue+Gilt”), two eCommerce destinations that were purpose-built for online and off-price. With over 5,000 premium and luxury brands at prices that often are up to 70% off full-price retail, we have become a trusted online fashion authority that provides a differentiated value proposition for a highly coveted shopping demographic. Since inception, we have transacted over $5.0 billion in gross merchandise value (“GMV”) on our platform.
We have defined the online treasure hunt through our daily boutique “popups” delivering top brands at compelling values to over one million Active Buyers. We have attracted a large and growing number of loyal members, as well as the most recognized premium and luxury brands that view us as an established off-price channel, including Coach, Creed, Eileen Fisher, Frette, St. John, Stuart Weitzman, Theory and Vince, among others. We curate boutique popups for our members across a diverse set of categories that include women’s and men’s apparel, handbags and accessories, beauty, jewelry, footwear, home décor and more.
Our vibrant ecosystem of brands, combined with our differentiated member experience, has enabled us to achieve significant scale in premium and luxury U.S. off-price eCommerce, with $702.5 million in net revenue for the trailing 12 months ended October 2, 2021. As a result of our scale, we are able to leverage our unique member data insights as well as our trusted brand relationships to accelerate our growth. For 2020 and for the trailing 12 months ended October 2, 2021, our net revenue grew 5.3% and 28.3% year-over-year, and we reported a net loss of $(16.3) million and $(8.8) million and Adjusted EBITDA of $3.1 million and $10.0 million respectively.
RueLaLa was launched in 2008 with the vision to make shopping an occasion to celebrate by sparking delight through daily discovery. We pioneered premium and luxury off-price eCommerce through our extensive experience in the art of off-price retail, supported by the science of our proprietary technology platform and data capabilities. With the acquisition of Gilt in 2018, we further enhanced our scale, increased operating efficiencies and broadened our member base. We maintain RueLaLa and Gilt as two distinct brands given their limited customer overlap with less than 7% of total Active Buyers on both destinations as of October 2, 2021. In 2019, as part of its investment, Simon Property Group, L.P. (“Simon”), contributed Shop Premium Outlets, an emerging eCommerce off-price premium and luxury outlet marketplace that benefits from Simon’s strong relationships with brands and loyal following of visitors to its properties, including its Simon Premium Outlets® locations. Collectively with RueLaLa, Gilt and Shop Premium Outlets, we have established a leading disruptive premium and luxury off-price eCommerce platform supported by our combined customer base, brand relationships, data insights, shared technology capabilities and strategic partners.
|Industry:||Apparel - luxury off-price|
|Address||20 Channel Center Street Boston, Massachusetts 02210|
|Phone Number||(617) 695-7300|
|View Prospectus:||Rue Gilt Group, Inc.|
|Revenues||$702.5 mil (last 12 months)|
|Net Income||$-8.8 mil (last 12 months)|
|Price range||$0.00 - $0.00|
|Est. $ Volume||$100.0 mil|
|Manager / Joint Managers||Citigroup/ BofA Securities/ Wells Fargo Securities/ Cowen/ Piper Sandler/ William Blair|
|Expected To Trade:|
|Quiet Period Expiration Date:||Available only to Subscribers|
|Lock-Up Period Expiration Date:||Available only to Subscribers|
|SCOOP Rating||Available only to Subscribers|
|Rating Change||Available only to Subscribers|