Lulu’s is a customer-driven digitally native fashion brand primarily serving Millennial (ages 25-40) and Gen Z women (ages 18-24). Our target customer initially meets us in her 20s and stays with us through her 30s and beyond. We focus relentlessly on giving our customers what they want. We do this by using data coupled with human insight to deliver a curated and continuously evolving assortment of on-point, affordable luxury fashion with an average unit retail price below $50. Our customer obsession sets the tone for everything we do, from our personalized online shopping experience to our exceptional customer service.

We engage with the consumer where she is: across the web, on social media and across our platform, through reviews, feedback and one-on-one interactions with our Style Advisors, Fit Experts and Bridal Concierge. Customers express their love for our brand on social media and by word-of-mouth (both in person and online). As of Oct. 3, 2021, we had more than 7.5 million followers, up from 5.5 million followers as of Sept. 27, 2020, across our social media platforms where the popular #lovelulus hashtag has generated billions of impressions. 

Unlike traditional retailers, we leverage a “test, learn, and reorder” strategy to bring hundreds of new products to market every week; we test them in small batches, learn about customer demand and then quickly reorder winning products in higher volume to optimize profitability. This strategy allows us to rapidly convert new products into profitable sales on a consistent and repeatable basis while minimizing fashion and trend risk. During the six months ended July 4, 2021, 70% of our sales were from reorders and 94% of our reorder products were sold without moving to sale pricing. This is up from 66% of sales from reorders and 89% of our reorder products sold without moving to sale pricing during the six months ended June 28, 2020.

During the 12 months ended Oct. 3, 2021, we served 2.5 million Active Customers. In the first six months of our 2021 fiscal year, 88% of units sold were Lulus brand products up from 86% in the first six months of the 2020 fiscal year. 

(Note: Lulu’s Fashion Lounge Holdings priced its IPO on Nov. 10, 2021, at $16 – the bottom of its $16-to-$19 price range – and priced 5.75 million shares, the same number of shares in the prospectus, to raise $92 million.)