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David’s Bridal to spin off Pearl into stand-alone, publicly traded company

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David’s Bridal to spin off Pearl into stand-alone, publicly traded company

David’s Bridal CEO Kelly Cook is expected to become the chief executive of Pearl, which will own the wedding retailer’s intellectual property and brand.

The separation of the retail operations of David’s Bridal from the AI-focused wedding planning and media platform Pearl will accelerate both entities, according to the company.

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

David’s Bridal will be a “material ongoing shareholder in Pearl,” according to the company. Pearl and David’s Bridal expect to have long-term agreements that drive growth across both businesses.

“Pearl is shaping the next generation of wedding planning, and this next step will give both businesses room to grow independently while continuing to strengthen each other,” Cook said in a statement. “With Pearl’s agentic technology and proven business model, combined with David’s Bridal’s strong brand and retail presence, we see tremendous opportunities to help more couples plan their weddings and connect with vendors who can bring their visions to life.”

While Cook is intended to be the CEO of Pearl, David’s Bridal has engaged with an executive consultant who has been working closely with her and her team on the daily oversight of David’s retail business, according to a company spokesperson. Cook will remain on the board of David’s Bridal.

The Pearl ecosystem includes the wedding planning platform Pearl Planner, the AI vendor platform Pearl Connect and the Pearl Digital Content Network, which includes original programming, YouTube channels, blogs and social media profiles.


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