LONDON — Luxury sports brand Perfect Moment is preparing to file for an initial public offering on Nasdaq later this year, the company confirmed Monday.
Perfect Moment said that to pursue the IPO and explore new growth opportunities, it has closed a $6 million bridge loan financing round.
“We have ambitious plans and this financing reflects the confidence in our vision. As a brand, Perfect Moment has gained global recognition for our high-quality, distinctly fashionable apparel, which we plan to build upon to create a recognizable, highly regarded international fashion icon,” said the label’s chief executive officer Negin Yeganegy.
The label, which is best known for its brightly hued, striped or star-print skiwear, is sold at major retailers like Net-a-porter, Mytheresa and Farfetch, which have all been building their ski categories and offering fashion-forward, Instagram-friendly skiwear.
The sport had been increasing in popularity among young people until last year, when the outbreak of COVID-19 slowed down winter travel and diminished the buzz around the category.
Perfect Moment also offers active and swimwear, and has built a celebrity following over the last few years, with everyone from Kim Kardashian West to the Duchess of Cambridge and Reese Witherspoon sporting the brand.
The listing is still subject to approval by Nasdaq but, once approved, the chairman Max Gottschalk said the company would use the enhanced access to capital and bigger shareholder base to accelerate the business and growth.
Perfect Moment said Laidlaw Venture Partners acted as the exclusive introducing broker on the $6 million transaction, and Montrose Capital Partners was the sponsor.
Perfect Moment was founded in Chamonix, France, in 1979 by Thierry Donard, a French racer turned filmmaker. It is currently headquartered in London.
The company’s plans for an IPO come in the wake of successful fashion retail listings in New York.
Last week, shares of ThredUp, which helps consumers clean out their closets and sell secondhand, jumped 42.9 percent from the IPO price of $14 to trade at $20 at the close on Friday.
That gave the company a valuation of $1.8 billion.
Secondhand platform Poshmark Inc. and high-end fashion retailer Mytheresa both went public in New York in January, and saw their valuations soar in the days following their debut.