The apparel brand Reformation has built a loyal following among young women eager for its on-trend, sustainable fashion since its founding in 2009.

On Wednesday, the Vernon, Calif., company, with more than $500 million in annual sales, sold shares to the public for the first time. Its initial public offering priced at $15 a share, valuing the company at about $886 million. The stock will begin trading Thursday on the New York Stock Exchange.

Here are four things you should know about Reformation -- or "Ref" as those in the know call the company.

It's nimble

Reformation produces new styles in small quantities and tests them twice a week on its website and once a week in its stores. It then restocks popular items quickly. Half of its products are delivered in 60 days or less, and reorders can arrive in as little as 30 days. That is far faster than the typical lead times of major retailers, which stretch a year or more. While it sources from all over the world, it uses its Los Angeles factory to deliver rapid turnaround of bestsellers.

It's technology driven

Reformation uses artificial intelligence and machine learning to rapidly gauge customer reactions to products and forecast future demand. It says that helps reduce the need for markdowns. In 2025, 80% of revenue from its e-commerce and retail stores was from items sold at full price. It also sells some items through other retailers like Nordstrom and Bloomingdale's, but such wholesale accounts make up only about 10% of overall sales.

The stores are high-tech too

Of its 70 retail locations, roughly 49 use a proprietary technology called Retail X. Each Retail X store is set up like a showroom, with one of each item on display. Customers can choose items in their size from a digital screen -- or use their phones to scan QR codes -- and a salesperson will deliver them to the dressing room. Dressing rooms are equipped with screens that display styling and sustainability information and also allow customers to request alternative styles and sizes. Reformation says shoppers spend 8.5% more on average in its stores that have the technology.

It uses bold marketing

Reformation is known for cheeky ad campaigns. One showed Monica Lewinsky in a red dress posing in a combative stance with her arms crossed. The words "Monica F*cking Lewinsky" were written across the page. To promote its "Divorce Collection" of date-night apparel, Reformation partnered with celebrity divorce lawyer Laura Wasser. One tagline read: "We called our lawyer, and she said you should dump him."