Rewrites lede with valuation and adds other details of the launch

July 20 (Reuters) - Permira-backed womenswear retailer Reformation is targeting a valuation of up to $1 billion in its U.S. initial public offering, marking a rare foray into public markets for a fashion brand in recent years.

The Vernon, California-based company said on Monday it and some of its selling shareholders aim to raise up to $239.1 million in the IPO by offering 14.1 million shares priced between $15 and $17 each.

The IPO offers a rare test of investor appetite for a fashion retailer at a time when U.S. listings have been dominated by AI infrastructure and defense firms, potentially signaling whether the market's revival is broadening beyond today's favored sectors.

J.P. Morgan, Morgan Stanley, Citigroup and RBC ⁠Capital Markets ​are among the underwriters for the ​offering. It intends to list its shares on the NYSE under the symbol "REF".