Roots, the Canadian lifestyle apparel chain, has filed for an initial public offering in order to ramp up its expansion efforts in North America and Asia.
The amount of shares sold the projected prices have not yet been disclosed. The retailer is seeking to raise about Canadian $200 million in the share sale and could have a market value of about C$700 million ($574 million) after listing, sources told Bloomberg.
Established in 1973, Roots sells a wide range of premium apparel, leather goods, accessories and footwear. As of July 29, the company had 116 corporate retail stores in Canada, 4 corporate retail stores in the U.S., 109 partner-operated stores in…