Reformation, the Los Angeles-based apparel brand, filed for an initial public offering on Thursday. The company plans to list on the New York Stock Exchange under the ticker symbol REF.
Reformation was founded in 2009 and has been majority-owned by private equity firm Permira since 2019. The filing describes the company as an emerging growth company under US securities laws.
In 2025 the brand reported net revenue of $507.1 million, reflecting a 19 percent compound annual growth rate from 2023. First-quarter revenue this year reached $112.3 million, up 30.4 percent from the same period in 2025.
The prospectus outlines plans to expand distribution, increase wholesale accounts, and scale internationally while maintaining a responsive merchandising model that relies on small-batch production and data-driven testing. It also notes continued focus on sustainability targets, including a goal of full circularity by 2030.
Permira is expected to remain the controlling shareholder after the offering.
