Farfetch announces plans to list on New York Stock Exchange

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Farfetch announces plans to list on New York Stock Exchange

The e-commerce business sells luxury goods online.


Farfetch will list in New York (PA)
Farfetch will list in New York (PA)

Farfetch, an e-commerce business that has partnered with the likes of Burberry and Gucci, has announced plans to list on the New York Stock Exchange.

Previous reports have suggested the initial public offering could value Farfetch at five billion US dollars (£4bn).

Farfetch said on Monday that it had not determined the number of shares or the price range for the proposed offering.

The luxury fashion website’s shares will trade under the ticker symbol “FTCH”.

Founded in 2008 by Portuguese businessman Jose Neves, Farfetch raised 110 million US dollars (£87 million) in 2016 in a funding round which saw Singaporean investment fund Temasek become an investor.

The business sells designer clothing online, helping brands boost their web sales.

In February, Farfetch signed a deal with Burberry to sell the fashion house’s clothing around the world.

The Burberry arrangement saw the launch of “Show to Door”, an immediate round-the-clock London delivery service from Farfetch for 24 hours after Burberry’s February 2018 Show.

The firm also launched a tie-up with Gucci last year, offering customers a 90-minute delivery service.

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