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Duluth Trading to begin trading: Workwear retailer files for a $115 million IPO

Duluth Holdings, which sells workwear and casual apparel through its website, catalog and retail stores, filed on Tuesday with the SEC to raise up to $115 million in an initial public offering.

The company primarily sells its clothing through www.duluthtrading.com. Duluth claims that its company is differentiated through a humorous marketing strategy that features characters such as Giant Angry Beaver, Buck Naked Guy and Grab-Happy Grizzly.

In October 2014, workwear retailer Boot Barn Holdings ( BOOT ) went public and gained 9% on its first day; it now trades 15% above the offer price after falling 42% in the past three months. The last major retailer to go public, Ollie's Bargain Outlet Holdings ( OLLI ), popped 32% on the day of its July 2015 IPO, but now trades just 2% above the offer price.

The Belleville, WI-based company, which was founded in 1989 and booked $261 million in sales for the 12 months ended August 2, 2015, plans to list on the Nasdaq under the symbol DLTH. Duluth Holdings filed confidentially on August 7, 2015. William Blair, Baird, Raymond James and BMO Capital Markets are the joint bookrunners on the deal. No pricing terms were disclosed.

The article Duluth Trading to begin trading: Workwear retailer files for a $115 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital, the Renaissance IPO ETF (symbol: IPO) or the Global IPO Fund (symbol: IPOSX) , may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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