Female Gen-Z, Millennial Opps: Lulus issues IPO amid spend increases (Score 66)
Lulus Fashion Lounge is going public and will start trading on the Nasdaq on November 11th, 2021. It reportedly hopes to bring in around $92m, selling shares at $16. Lulus will use these new funds to repay debt, redeem preferred shares and for general corporate purposes. It may also use some these extra funds on advertising or to outsource some marketing duties to an agency.
Per Pathmatics, Lulus earned 636.1m impressions YTD through Facebook ads (44%), Instagram ads (37%), desktop video ads (19%) and desktop display ads (1%). It placed the majority (99%) of these ads site direct onto sites such as facebook.com, instagram.com, youtube.com and hercampus.com. It placed the remainder (1%) indirectly through Display & Video 360 and Google AdX+AdSense onto sites such as quizlet.com, teddyfeed.com, spoonuniversity.com, foxnews.com and yahoo.com. It spent around $6.1m on digital display ads YTD, a significant jump from $1.2m spent in this channel during the same time period of 2020. Full-year spend equaled $1.4m in 2019 and $1.5m in 2020.
Sellers-- Lulus mainly targets Gen-Z and millennial women through digital display ads. Furthermore, it placed the majority of its digital ads directly onto social media sties Facebook and Instagram. Spend has skyrocketed this year, and I only expect spend to continue to climb, considering it just secured extra funding through the IPO. Sellers should contact Lulu's DMs to offer ad space and score some of these extra ad dollars.
Agency & martech readers-- I do not think Lulus is working with any agencies at this time. Keep reaching out and pitching your services to this company. I recommend offering PR or communication assistance and to focus your pitches on helping Lulus build brand awareness.