Home Celebrity Business Kate Hudson-Backed Fabletics Reportedly Exploring an IPO

Kate Hudson-Backed Fabletics Reportedly Exploring an IPO

by Jerald Dyson
Kate Hudson-Backed Fabletics Reportedly Exploring an IPO

Kate Hudson’s workout wear brand Fabletics is reportedly working with major banks to prepare for an initial public offering that could value the company at more than $5 billion.

The Wall Street Journal reported that Fabletics owner TechStyle Fashion Group is working with Morgan Stanley, Goldman Sachs Group, Barclays Plc and Bank of America Corp. on a future IPO and seeking to raise $500 million.

A company spokesperson told Women’s Wear Daily that the company does not comment on “rumors or speculation.”

Fabletics was launched in 2013 as an online store by co-founders Adam Goldenberg, Don Ressler and Hudson. The brand opened its first five brick-and-mortar stores in 2015 and since has partnered with celebrities Demi Lovato and Kevin Hart, who helped launch the company’s men’s line in April 2020.

The company operates on a membership model, and has 57 stores with 2 million-plus members, who pay a monthly fee that goes toward clothing purchases and access to a workout app. The brand also has a multiyear partnership with Hydrow, a rowing machine with connected features.

The company plans to open 70 stores this year. A location is set to open at the Walt Disney World Resort shopping area Disney Springs in Orlando in the fall.

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