TechStyle Fashion Group, the billion-dollar company behind Fabletics, a clothing line co-founded by Kate Hudson, is looking for a buyer, according to Reuters. Fabletics sells exercise and leisure items both online and in brick-and-mortar retail stores, offering subscription-based memberships and allowing non-subscribers to purchase products as guests. TechStyle’s other brands include online footwear retailer ShoeDazzle and JustFab, which sells women’s clothing and accessories.
Founded in 2010, TechStyle has raised more than $330 million from investors including Technology Crossover Ventures, Matrix Partners and Rho Ventures. The Los Angeles-area company reached a $1 billion valuation with an $85 million round in 2014. TechStyle has hired JP Morgan Chase to run an auction, which could value the business at more than $1.5 billion, according to Reuters.
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