Online sales for J.Jill are growing and reached $228 million for the 12 months ended Oct. 29.

The J.Jill Group on Monday launched an initial public offering of more than 11.6 million shares at $14-$16 each.

All shares for the women’s apparel retailer’s IPO, which could raise $163.3 million to $186.7 million, are being sold by an existing stockholder, and the retailer will not receive proceeds from the share sale, J.Jill said Monday. The retailer intends to list its stock on the New York Stock Exchange under the ticker “JILL.”

BofA Merrill Lynch, Morgan Stanley & Co. LLC and Jefferies LLC are managing the offering. J.Jill was sold by The Talbot’s Inc., No. 137 in the Internet Retailer 2016 Top 500 Guide, in 2009 to private equity firm Golden Gate Capital for $75 million. In March 2015, private equity firm TowerBrook Capital Partners took over J.Jill from Golden Gate Capital and investment firm Arcapita, which took a stake in 2011. Terms of the TowerBrook deal were not disclosed.

In its prospectus filed Feb. 27 with the U.S. Securities and Exchange Commission, J.Jill says its total sales were $617 million for the 12 months ended Oct. 29. Direct sales, which are online and via catalog, accounted for 42% ($259.1 million) of that total. E-commerce represents the bulk of direct sales growth and accounted for 88% ($228.0 million) of direct sales in that same 12-month period, and catalog orders 12% ($31.1 million), according to the prospectus.

“Given our strong foundation that positions us to capitalize on the growth of online and mobile shopping, we believe we have the opportunity to grow our direct sales from 42% of our net sales to approximately 50% over the next few years,” J.Jill states.

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Active customers, which are those who have made a purchase in the past 12 months, numbered 1.7 million for fiscal 2016 ended Jan. 28, 2017, up 13.3% from 1.5 million in fiscal 2015, J.Jill said.

Citing Euromonitor projections that online apparel sales are expected to grow at a compound annual growth rate of about 15% from 2015 to 2020, J.Jill is working to enhance its e-commerce operations.  “We are in the process of re-platforming our website to improve our customers’ personalized shopping experience and increase the ease of navigation, checkout and overall engagement,” the retailer says in its SEC filing. “Our new platform, managed by our experienced team, will provide us with the opportunity to expand internationally. In addition, our mobile platform provides us with the ability to effectively engage with our customer on her mobile device by providing her with access to product research and the ability to connect with the brand socially.”

Omnichannel also is a focal point for J.Jill. “We have a highly profitable omnichannel platform that is well-diversified across our direct and retail channels,” the retailer said. As of Jan. 28, J. Jill has 275 stores in 43 states. J.Jill also produces 25 editions of its catalog each year, which in fiscal 2015 totaled 57 million copies. “Our catalog, combined with an increased investment in online marketing, drives customer acquisition and engagement across all of our channels,” the retailer states.

Compared with shoppers who only spend with J.Jill in one way, such as online or in a store, J.Jill’s customers who spend in two or more channels make more purchases per year and spend more annually. J.Jill targets women ages 40-65, and the retailer says its average customer has an annual household income of $150,000 or above. “She is highly loyal as evidenced by the fact that approximately 70% of our gross sales in pro forma fiscal year 2015 came from customers that have been shopping with J.Jill for at least five years,” the retailer states in its SEC filing. “Customers who remain with our brand for five years or longer spend nearly twice as much and shop with us 1.5 times more per year than a new-to-brand customer. Our private-label credit card program also drives customer loyalty and encourages spending, as average spend per card holder is over two times higher than non-card holders.”

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