Furniture retailer Arhaus files IPO
Another retailer is preparing to go public.
Arhaus has filed for an IPO. The number of shares to be offered and the price range for the proposed offering have not yet been determined. The premium home furnishings and décor company has applied to list on the Nasdaq Global Select Market under the symbol "ARHS”.
Founded in 1986 and based in Boston Heights, Ohio, Arhaus reported $16 million of net income on $355 million in revenue in the first half of 2021. The company directly designs and sources products from leading manufacturers and artisans around the world, offering an exclusive assortment of products. It has 75 retail stores and design center locations across the United States, and e-commerce capabilities. Arhaus also boasts a team of interior designers that complimentary in-home design services.
[Read More: Home furnishings retailer Arhaus launches new store concept]
These are boom times for retail IPOs. The Arhaus filing came the same day that Rent the Runway filed for an initial public offering seeking to raise $150 million. Warby Parker made its public debut at the end of September with a direct listing on the NYSE. Allbirds is expected to go public in the coming weeks.
The Arhaus offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.