With a market value of over US$2.9 billion, the American plus-size clothing brand Torrid was successfully listed!

Recently, Torrid Holdings was successfully listed in New York, USA, with an issue price of US$21. On the first day of listing, the stock price rose by 15% to US$24.15. It is worth noting that Torrid's market value exceeded US$2.9 billion on the second day after its listing.

Revenue in 2020 reached US$974 million

Founded in 2001 in California, Torrid is one of the largest plus-size (size 10-30) clothing and underwear brands directly targeting women in North America. Torrid mainly sells plus-size clothing, accessories, gifts and beauty products, and sells them in physical stores and online e-commerce platforms.

The prospectus shows that in the fiscal year ending January 30, 2021, Torrid's revenue was US$974 million, while its revenue in 2019 was US$1.037 billion; its net profit in 2020 was US$24.53 million, while its net profit in 2019 was US$86.71 million.

In contrast, Torrid's revenue and net profit were both on a downward trend. However, this situation was reversed in 2021. In the first quarter ending May 1, 2021, Torrid's revenue reached US$326 million, more than triple the US$156 million in the first quarter of 2020.

The US plus-size clothing and underwear market has reached 85 billion US dollars

As more plus-size celebrities and influencers emerge, more consumers are choosing more flattering and fashionable clothing, which has led to the growth of the plus-size clothing and underwear market share in the United States, which has reached $85 billion. In addition, as of 2019, two-thirds of women in the United States wear plus-size clothing.

The survey found that 69% of plus-size women find it difficult to find clothes that fit and are stylish. Many clothing companies use a "tiered" approach, offering regular-size clothes in larger sizes instead of designing clothes for plus-size women's bodies. Torrid fills this market with women's clothing designed specifically for plus-size women.

Looking ahead, Torrid said there will be investments in a range of activewear, loungewear and sleepwear, as well as bras and other undergarments featuring “patent-pending back-smoothing technology and the recently launched underwire-free bra, which is a significant investment.”

It will also focus on attracting new customers through "targeted investments in performance and brand marketing, including paid search, repositioning, social media activity, large-scale community events, in-store experiences and product collaborations."

USA

Plus Size Clothing

Torrid