0000000000-19-016656.txt : 20211210 0000000000-19-016656.hdr.sgml : 20211210 20191220102718 ACCESSION NUMBER: 0000000000-19-016656 CONFORMED SUBMISSION TYPE: UPLOAD PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20191220 FILED FOR: COMPANY DATA: COMPANY CONFORMED NAME: Lulu's Fashion Lounge Holdings, Inc. CENTRAL INDEX KEY: 0001780201 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-CATALOG & MAIL-ORDER HOUSES [5961] IRS NUMBER: 208442468 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: UPLOAD BUSINESS ADDRESS: STREET 1: 195 HUMBOLDT AVENUE CITY: CHICO STATE: CA ZIP: 95928 BUSINESS PHONE: 530-343-3545 MAIL ADDRESS: STREET 1: 195 HUMBOLDT AVENUE CITY: CHICO STATE: CA ZIP: 95928 LETTER 1 filename1.pdf begin 644 filename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Amendment No. 1 to Draft Registration Statement on Form S-1 Filed November 19, 2019 CIK No. 0001780201 Dear Ms. Landsem: We have reviewed your amended draft registration statement and have the following comments. In some of our comments, we may ask you to provide us with information so we may better understand your disclosure. Please respond to this letter by providing the requested information and either submitting an amended draft registration statement or publicly filing your registration statement on EDGAR. If you do not believe our comments apply to your facts and circumstances or do not believe an amendment is appropriate, please tell us why in your response. After reviewing the information you provide in response to these comments and your amended draft registration statement or filed registration statement, we may have additional comments. Amendment No. 1 to Draft Registration Statement on Form S-1 filed November 19, 2019 Management's Discussion and Analysis of Financial Condition and Results of Operations Factors Affecting Our Performance Customer Acquisition and Retention, page 67 1. We note your discussion and presentation of the cohort metric titled "Cumulative Gross Sales." Please tell us why you believe this represents an operating metric and how this measure differs from cohort metrics commonly presented by online retailers such as customer lifetime value. 2. We note your presentation of the cohort metric titled "Cumulative Gross Sales Less CAC." Please tell us your basis for allocating CAC to each cohort. Please also tell us why you believe it is appropriate to exclude search engine optimization and email Crystal Landsem Lulu's Fashion Lounge Holdings, Inc. December 19, 2019 Page 2 marketing costs from your calculation of CAC and whether such amounts are material for any of the periods presented. 3. Please tell us in more detail why you believe Cumulative Gross Sales Less CAC is a useful metric and how management uses this metric. As part of your response, please tell us why you believe it is meaningful and appropriate to disclose to your investors a metric that doesn't reflect whether the customers you acquire are profitable or unprofitable for your company. You may contact Scott Stringer at 202-551-3272 or Jennifer Thompson at 202-551-3737 if you have questions regarding comments on the financial statements and related matters. Please contact Jacqueline Kaufman at 202-551-3797 or Lilyanna Peyser at 202-551- 3222 with any other questions. FirstName LastNameCrystal Landsem Sincerely, Comapany NameLulu's Fashion Lounge Holdings, Inc. Division of Corporation Finance December 19, 2019 Page 2 Office of Trade & Services FirstName LastName