Farfetch files for IPO on New York Stock Exchange

Farfetch has officially filed for an initial public offering (IPO) on the New York Stock Exchange.

The luxury online fashion house has filed to go public, after enlisting the help of bankers from JPMorgan and Goldman Sachs in March this year.

Though it did not officially disclose the valuation it was seeking for its public offering, its value has previously been estimated at around $4 billion, placing it in league with other UK fashion giants including Asos and Burberry, valued at £6.3 and £7 billion respectively.

Its has been given a $100 million valuation figure, though this is used to gauge investor interest and is likely to change closer to the offering in autumn.

Despite being just a decade old, the company has seen staggering levels of growth in recent years and has acquired partnerships with luxury department store Harvey Nichols and brands like Burberry and Chanel.

In the first six months of the year Farfetch saw revenues jump 54 per cent to $268 million (£209.9 million), but losses over the period also more than doubled to $68 million (£53.3 million).

The IPO has been on the cards for two years, with its chief executive José Neves stating in 2016 that the company’s “next financial milestone” would be going public.

Click here to sign up to Retail Gazette‘s free daily email newsletter


Please enter your comment!
Please enter your name here