David’s Bridal to spin off Pearl as independent public company

David’s Bridal announced plans to spin off Pearl, its AI-focused wedding planning and media platform, into a separate publicly traded company, Retail Dive reported.

Pearl will own the wedding retailer’s intellectual property and brand, with David’s Bridal CEO Kelly Cook expected to lead Pearl as its chief executive.

The separation aims to accelerate growth for both David’s Bridal’s retail operations and Pearl’s technology platform, according to the company.

The deal values Pearl at $350 million and includes $75 million in private investment in public equity funding, with a $25 million anchor investment from CION Investment Corporation, David’s Bridal’s largest shareholder.

David’s Bridal will remain a significant shareholder in Pearl, and the two companies plan to maintain long-term agreements to support mutual growth.

Pearl’s ecosystem includes the Pearl Planner platform, Pearl Connect vendor platform, and a digital content network with original programming and social media.

Pearl projects revenue exceeding $85 million in 2027 and expects to be debt free after the deal, while David’s Bridal stores will continue normal operations without disruption.