Furniture Brand Serena & Lily Is Said to Plan U.S. IPO This Year

Serena & Lily Inc., a maker of luxury furniture, bedding and other home accessories, is planning an initial public offering as soon as this year, according to people with knowledge of the matter.

The Sausalito, California-based company could be valued at more than $1 billion in a U.S. IPO, said one of the people, who asked not to be identified discussing private information. Morgan Stanley, Goldman Sachs Group Inc., Bank of America Corp. and Jefferies Financial Group Inc. are working as active bookrunners on the proposed listing, people with knowledge of the matter said.