Kidpik Launches $18 Million IPO: Everything Subscribers Need to Know
Kidpik is having a big year. The brand announced it has launched an IPO — short for initial public offering — on the Nasdaq with gross proceeds of around $18 million.
So what does this mean if you’re a subscriber to Kidpik for your kids?
Well, for starters, it means if you dabble in the stock market you can get a piece of KidPik. More than 2 million shares are up for grabs, trading under the ticker symbol PIK.
It also means the popular children’s apparel brand has big plans for the future. Kidpik’s chief executive and chairman Ezra Dabah told Forbes an IPO cash infusion will enable the brand to expand to offer clothing for additional ages — including newborn. There is also the possibility of serving more teens as well, as many kids age out of Kidpik around 10 or 11 (currently the brand offers clothes up to kids size 16).
The brand is also considering offering larger boxes with more than seven options.
Not familiar with Kidpik? Here are the big points you should know:
The Box: Kidpik
The Cost: There’s a $20 styling fee which is deducted from the cost of any clothing you keep.
The Products: Kidpik makes clothesin sizes 2T to 16, and subscribers take a style quiz to describe their child. Based on that quiz, Kidpik’s stylists will send you a box with 7 pieces of high quality kids clothes, a pair of shoes and accessories that make up 3 coordinated outfits. You pay for only the clothes you decide to keep.
See what MSA reviewers have thought of Kidpik boxes.
What do you think of this news from Kidpik?