The trend: Two consumer-facing companies are moving ahead with US IPOs, a sign that momentum is beginning to return to the public markets for brand debuts.

The details:

• Bob’s Discount Furniture aims to raise up to $370 million at a valuation of roughly $2.5 billion, per its SEC filing.
• Once Upon a Farm—an organic children’s snacks brand co-founded by Jennifer Garner and John Foraker, former CEO of Annie’s Inc.—is targeting up to $209 million, valuing the company at about $764 million at the top of its range, per its filing.

Both offerings are expected to price in February, positioning the companies among the first notable retail-oriented IPOs of the year. Bob’s operates more than 200 stores across 26 states, with plans to expand to more than 500 locations by 2035. Once Upon a Farm is sold in more more than 3,200 stores, including Target, Whole Foods, Kroger, and Walmart.

The implications for brands: The IPO market for consumer-facing brands has largely been frozen since 2021, when the category raised $17.4 billion, per Bloomberg. Since then, total issuance has reached just $15.6 billion.

These deals suggest private equity and venture-backed firms are testing investor appetite again, even as the macro backdrop remains challenging—particularly for low- and middle-income consumers.

Both companies share a common strength: creative, differentiated marketing. Bob’s has leaned into bold campaigns like “Dare to Compare,” which encourages shoppers to stack its furniture against competitors on price, quality, and features, and even launched a “Till Décor Do Us Part” web-based reality-style series to build awareness. Once Upon a Farm, meanwhile, has benefited from high-visibility brand storytelling, with Garner promoting the products in Capital One commercials that double as brand-building moments.

Together, the IPOs suggest that brands with clear positioning, scale, and distinctive marketing may find a pathway in the public markets, even as investors remain cautious.

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