Windsor Fashions reportedly planning IPO

An 84-year-old specialty apparel retailer is eying an initial public offering.

Windsor Fashions is considering an IPO, reported Bloomberg. The young women's apparel and accessories retailer, best known for its affordable prom dresses and special occasion outfits, is backed by private equity firm Sun Capital Partners. It could be valued at over $1 billion, the report said.

In October, Windsor said it planned to open an additional 28 stores by the end of 2021, bringing its total footprint to 294 locations. The company said it expected to open approximately 35 stores in 2022.

Founded with a single location in 1937 by the Zekaria family, Windsor is run by the second generation of Zekaria brothers, Leon and Ike. The brothers, who took the helm in 1998, have expanded the chain nationwide and developed an integrated e-commerce business. They also expanded Windsor’s product assortment to include a broad selection of apparel and accessories for special and everyday wear, with the selection tailored by market. Items range from formal dresses to crop tops to faux leather pants.