Reuters reports that Fairway Market, which has nine stores in the New York metropolitan area, is considering an initial public offering (IPO) that would make it a public company and could raise hundreds of millions of dollars to help fuel further growth.
Fairway, founded as a fruit and vegetable stand in 1933, was family-owned until a majority of its stock was acquired by Sterling Investment Partners.
Fairway, founded as a fruit and vegetable stand in 1933, was family-owned until a majority of its stock was acquired by Sterling Investment Partners.
- KC's View:
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Stories like this one always worry me, because they suggest that interesting and unique retailers like Fairway may get to the point where they worry more about Wall Street than Main Street. The company took investment capital, and now may get pushed in this direction because of a desire to realize a strong return on that investment.
But I worry about what an IPO could do to company priorities, just as I worry that the company could be expanding beyond its ability to deliver a differentiated shopping experience.
