The British luxury online-retailer Farfetch is planning an US IPO. According to the Financial Times, the company has hired investment bankers from JPMorgan and Goldman Sachs to lead the offering. The company is selling brands like Gucci, Fendi and Valentino. The company nor the bankers did not comment the FT news.
This London based company is one of the few tech companies at the row valued more than billion dollars, the newspaper says. The luxury online markets have been growing steadily and for example last year the growth figures were double digit.
The companies in the markets are active and for example the Swiss luxury giant Richemont (CFR:SW) announced in the late January a tender offet to buy Net-a-Porter (YNAP:MI), the word largest online luxury retailer. The Swiss company is planning to have the majority of the Milan based online-luxury retailer, while it owns 49 % of the platform at the moment.