JP Outfitters, the parent company of The J. Peterman and The Territory Ahead brands, has filed for an initial public offering (IPO) of its shares on the Nasdaq
The company, which is controlled by 90% shareholder Santai Global Asset Management, did not provide an estimated price range or size for its IPO in its prospectus but confirmed Aegis Capital as the sole book-running manager.
If successful, it said its stock will trade under the symbol ‘JPO’.
For its 2022 financial year, the company reported net revenue of $26.1 million, down from $28.7 million in 2021. Its net loss widened to $5.67 million, from $3.65 million a year earlier, resulting in a basic loss per share of $0.38, up from $0.24.
It operates a Direct to Consumer (DTC) model in which it distributes its products directly to customers via print catalogs, the web, supplemented with social media and regular email communication.
“Versus applying the ‘fast-fashion’ approach of many in the apparel industry, our business strategy is to develop and market compelling lifestyle brands and curated timeless products that evoke a strong emotional response from our target consumers, which we believe translates into greater customer loyalty and provides permission for higher price points,” the company said.
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