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Friedland Enterprises Discloses 5% Stake In Lulu's Fashion Lounge, Calls For Immediate Governance Reforms To Unlock Shareholder Value

Benzinga·01/12/2026 15:09:48
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Friedland Enterprises disclosed in a Schedule 13D filing with the Securities and Exchange Commission that it has acquired approximately 5% of the outstanding common stock of Lulu's Fashion Lounge Holdings, Inc. (NASDAQ:LVLU) and is calling for immediate governance reforms to unlock shareholder value.

Mr. Christian Friedland, founder of Friedland Enterprises and former CEO of Build.com for 17 years, believes LVLU shares are significantly undervalued despite the company achieving two consecutive quarters of positive Adjusted EBITDA and expanding gross margins by over 450 basis points. The stock currently trades at approximately 0.05x trailing revenue versus comparable company REVOLVE Group at 1.35x revenue—a 27x valuation gap.