Jul. 1 at 1:37 AM
iHerb has selected JPMorgan Chase, Morgan Stanley and Citigroup to lead its planned initial public offering, Bloomberg reported, citing people familiar with the matter. The online retailer of vitamins, supplements and wellness products is targeting a
$500 million IPO, with the listing potentially taking place as early as this year, although the timing and final terms remain under discussion.
Headquartered in Irvine, California, iHerb sells products from nearly 2,000 brands across nutrition, beauty, personal care, food, baby and pet categories. The company serves more than 15 million customers in over 180 countries, employs more than 3,000 people worldwide, and generated more than
$2.8 billion in revenue last year while remaining profitable.
The planned IPO follows iHerb's acquisition of Kroger-owned Vitacost earlier this year, a transaction aimed at strengthening its position in the U.S. market.
$JPM $MS $C $KR