Duluth Trading
Direct-to-consumer workwear. Mount Horeb, Wisconsin.
Status: Watchlist
- Founded
- 1989
- Website
- duluthtrading.com
- HQ
- USA
- Manufacturing
- Various
- Ownership type
- Public
- Parent
- Duluth Holdings Inc.
- Status since
- 2026-05-20
Ownership
Public company (NASDAQ: DLTH) trading as Duluth Holdings Inc. since November 2015 IPO. Privately founded in 1989. Most manufacturing offshore.
Why Watchlist
Reader account (May 2026) documents No Bull Guarantee rollback in practice: 5-minute order cancellation refused, return shipping deducted from refund despite rep statement that Duluth would pay shipping. Reddit corroboration referenced by sender. Combined with structural reweighting of public-market shareholder pressure compounding since 2015 IPO, the original Approved status no longer holds. Original placement weighted brand history and US headquarters too heavily relative to public ownership and post-IPO operating reality.
Reversibility
What would change our verdict
Move to Avoid on documented mass pattern of No Bull Guarantee rollback, further offshoring of the core Fire Hose line, or PE buyout. Return to Approved would require restructuring out of public-market shareholder pressure, which is improbable.
Read the full investigation
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