Lulu’s Fashion Lounge Holdings, Inc. (NASDAQ:LVLU) ("Lulus" or the "Company") announced today that its Board of Directors has formed a special committee of independent directors to evaluate strategic alternatives available to the Company to maximize stockholder value (the "Special Committee"). These alternatives may include a possible transaction involving the Company, as well as continued execution of the Company’s standalone strategic plan.

The Special Committee has retained Solomon Partners as its financial advisor and Willkie Farr & Gallagher LLP as its legal advisor to assist in connection with the strategic review process.

There is no assurance or guarantee that the review process will lead to any strategic transaction. The Company and the Special Committee do not intend to provide updates unless and until a specific course of action is approved and further disclosure is deemed appropriate.