Farfetch is going public
Online luxury e-commerce company Farfetch has commenced its operation to join the New York Stock Exchange and is poised to earn approximately US$450 million in the initial public offering.
The fashion marketplace has confirmed it will offer approximately 30 million shares with an estimated value of between US$15 and US$17 per share.
A further 7.4 million shares will be available to certain selling shareholders, increasing the total number of shares to approximately 37.5 million.
Goldman Sachs & Co., J.P. Morgan Securities, Allen & Company and UBS Securities are acting as joint lead-book running managers for the proposed offering.
Farfetch was launched in 2008 and sold products from 25 boutiques in five countries, and by 2016 that number had risen to almost 500 boutique partners with 200 direct partners.
In 2017 Farfetch partnered with JD.com to bring the luxury marketplace to China, significantly expanding the reach of the retailer.
As of March 31, 2018, over 2,900 brands are available on the marketplace, across its range of women’s, men’s and kids’ apparel, vintage, watches and jewellery, which ship to over 190 countries.