What is SSENSE & can you buy its stock?

Highlights

  • SSENSE offers its customers to buy clothes from more than 700 brands, and it reportedly has an inventory of 70,000 items. 
  • Started as an e-commerce platform, SSENSE is one of the most popular multi-brand retailers among millennials in Canada. 
  • Earlier this year, SSENSE received an investment from Sequoia Capital, and it valued the company at around C$ 5 billion. 

The Montreal-based multi-brand fashion retailer SSENSE has sparked investor attention as its Cyber Monday sale reportedly attracted many people. 


The company was established in 2003, and in the last 18 years, SSENSE has specialized in providing designer fashion clothes and high-end streetwear to its customers. Notably, the company has become a shopping destination for millennials and Gen Z customers. 


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SSENSE offers its customers to buy clothes from more than 700 brands, and it reportedly has an inventory of 70,000 items. The company houses famous brands like Prada and Gucci and juxtaposes them with streetwear brands like Undercover and Noah. 


What is SSENSE?


Started as an e-commerce platform, SSENSE is one of the most popular multi-brand retailers among millennials in Canada. It also operates through retail stores and was founded by Rami Atallah and his brothers Firas and Bassel. 

What is SSENSE?

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Earlier this year, SSENSE received an investment from Sequoia Capital, and it valued the company at around C$ 5 billion. This was the first time since its inception when SSENSE took external funding. 


Sequoia Capital is a venture capital firm, and by investing in the fashion retailer, it expanded into the fashion industry. Meanwhile, the investment will help SSENSE to focus on growth strategies.


Bottom line


As SSENSE continues to remain a private company, investors cannot buy its stock right now. However, stocks of publicly listed companies can be purchased by investors or the pre-IPO stock offered through stockbrokers and brokerage companies. 


There’s no announcement of an initial public offering (IPO) from SSENSE, and potential investors will have to wait for the company to go public. 


So far, 2021 has seen several IPOs across the world. According to a CPE Analytics report, in the first of this year, 88 IPOs were completed on four Canadian Exchanges- Toronto Stock Exchange (TSX), the primary stock market, TSX Venture Exchange (TSX Venture), Canadian Securities Exchange (CSE), and NEO Exchange (NEO). 

The total amount raised through the offerings was C$6.92 billion, including Capital Pool Company (CPC) and Special Purpose Acquisition Company (SPAC).

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