Private markets outpace public listings as consumer brands delay IPOs
Five years after a 2021 IPO boom, the market for going public has cooled and more consumer companies are choosing to stay private longer, backed by deep private capital and a booming secondaries market that offers liquidity without an IPO. A few consumer IPOs in 2026 (like Jersey Mike’s and Reformation) have been modest, underscoring a shift where valuation, regulatory burden, and access to capital in private markets are keeping many firms private while experts expect potential policy tweaks could eventually re-balance incentives toward going public.
