Hong Kong-based apparel producer Riverstone files and sets terms for a $15 million US IPO
IPO Overview
Riverstone, a Hong Kong-based designer and producer of apparel for third-parties and under its own brand, filed on Monday with the SEC to raise up to $15 million in an initial public offering.
The Hong Kong-based company plans to raise $15 million by offering 2.5 million shares at a price range of $5 to $7. At the midpoint of the proposed range, Riverstone would command a market cap of $75 million.
Riverstone operates as a vertically integrated B2B and B2C fast fashion supply chain management service provider, offering apparel solutions including market trend analysis, product design, raw material sourcing, manufacturing, quality control, and logistics management. It serves a diverse customer base primarily located in Australia, Mexico, the United Kingdom, and the US. Riverstone also operates a manufacturing facility in China, spanning over 13,000 square meters with a capacity to produce 600,000 garments monthly. Additionally, Riverstone manages its own brand, DOUBLE CRAZY.
The Hong Kong-based company was founded in 2010 and booked $46 million in revenue for the 12 months ended March 31, 2025. It plans to list on the Nasdaq under the symbol DNJF. Riverstone filed confidentially on April 11, 2025. Joseph Gunnar is the sole bookrunner on the deal.
About the Company
Riverstone is a vertically integrated, B2B （Business to Business） and B2C （Business to Consumer）， fast fashion supply chain management service provider, combining advanced technologies and ethical practices. We represent over 15 years of experience offering our customers up-to-date, innovative, and sustainable fast fashion products as well as a full suite of artificial intelligence （“AI”） and 3D assisted services from market trend analysis, product design and development, raw material sourcing, manufacturing, quality control, inventory management and logistics management. Serving customers primarily located in Australia, China, Mexico, the United Kingdom, and the U.S. markets, we are a one-stop destination for producers and retailers of fast fashion apparel products. We are committed to reducing our environmental impact through recycling, clean processes, traceable sourcing, and other eco-friendly practices and we strive for sustainable solutions to fulfil our customers’ needs throughout garment production. Our process begins by conducting market trend analysis to identify changes in fashion trends. We discuss with customers their requirements for the upcoming season and pitch various designs having considered both emerging trends derived from our extensive historical digital database as well as our customers’ needs.