Fashion IPOs Became a Recipe for Disaster. Reformation Thinks Its Business Model Can Break the Curse

Reformation’s IPO shows investors may be willing to buy fashion again, but only if the story comes with profits, cash flow, and proof customers keep coming back.

BY LUCIA AUERBACH, NEWS WRITER

Hali Borenstein. Photo: Getty Images

For the past three years, taking a fashion brand public felt like a recipe for disaster. 

After watching post-pandemic direct-to-consumer........

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