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Oct. 6, 2021, 6:05 p.m. EDT

Children's clothing subscription company Kidpik files for IPO

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By Claudia Assis

Kidpik Corp. has filed for an initial public offering. The company, which offers a clothing styling and subscription service for children, is seeking to sell $17.9 million worth of shares, including warrants, according to a filing late Wednesday. Kidpik, headquartered in New York City, plans to list the shares on the Nasdaq under the symbol PIK. Kidpik's Chief Executive Ezra Dabah led The Children's Place more than a decade ago. "We believe we have a competitive advantage over our subscription-based e-commerce clothing competitors" thanks to the executive team's "extensive knowledge and experience of the childrenswear and footwear industries," the company said in its prospectus. The company listed sales of nearly $17 million for 2020, compared with sales of $13.5 million for sales in 2019. Losses for 2020 fell to $4.2 million, compared with losses of $4.6 million in the year-ago period. In the six months of this year, Kidpik lost $2.9 million on sales of $11 million.

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