Online fashion retailer, Lulu’s Fashion Lounge, is all ready for the IPO runway as it filed for a listing on Tuesday. The company is placing the offering size at around $100m, with an estimated valuation of $1b.

The California-based company has PE company HIG Capital as one of its main investors, and is a fast-fashion boutique with its customers mostly being from a younger demographic. Lulu’s is completely online-based with 2.5 million active customers that led to it reaching $7m net income and revenues of $173m in H1 2021. The IPO is most likely an opportunity to strike while the iron’s hot, as its recent financials are a quick turnaround compared to its $15m net loss in H1 2020.