Riachuelo is expected to announce soon a follow-on share offering, a 100% primary offering expected to raise between R$400 million and R$500 million, according to sources consulted by NeoFeed . The offering syndicate will be formed by BTG Pactual, Itaú BBA, Bradesco BBI, and UBS BB.
The main objective of the operation is to increase the company's free float, expanding the liquidity of its shares on the B3 stock exchange, and to strengthen its investment capacity in expanding verticals, as well as to support the plan to open new stores. The official announcement should occur soon.
The information that Riachuelo would launch a follow-on offering had been anticipated by NeoFeed, in a report that showed that initial public offerings (IPOs) and subsequent share offerings should return with more force this year.
This move comes on the heels of a positive operational phase for its parent company, Guararapes. In 2025, the group closed the year with a net profit of R$ 512.1 million, a 117.8% increase, and a record EBITDA of R$ 1.75 billion. The gross margin for apparel reached 56.7%, the highest level in the last seven years.
The company also expanded its growth areas: it is studying accelerating the expansion of Riachuelo, with plans to open 15 to 20 stores per year, totaling up to 90 units in five years; it is testing new formats, such as the pop-up store in Pinheiros; and it has launched collections that reinforce its positioning in fashion and innovation.
The strategy is part of a restructuring cycle initiated in 2023, under the leadership of CEO André Farber, which has increased the efficiency of the vertically integrated model that encompasses production, distribution, and retail.
Another significant move by the group was the sale of Midway Mall for R$ 1.6 billion, reinforcing its deleveraging and capital reorganization. Furthermore, the company is evaluating alternatives to improve the liquidity of its shares, although it has not publicly confirmed an offering—a topic that gained traction behind the scenes in the market following Riachuelo's follow-on offering.
