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Farfetch files intention to float

Luxury etailer Farfetch has filed notice of its intention to float on the New York Stock Exchange.

The number of shares to be offered and the price range have not yet been determined.

Last month the company acquired digital and technology business CuriosityChina in a bid to give luxury brands a deeper reach into the Chinese market.

CuriosityChina works with 80 luxury and premium brands wanting to expand in China or reach Chinese people travelling to other markets.

Farfetch said the deal means the company can now offer brands the ability to rapidly build their online presence in China with a new plug-and-play suite of services, social CRM and digital marketing through its Black & White Solutions offer.

In May, Farfetch launched an Arabic-language site in the Middle East, following the company’s joint venture with the Middle Eastern specialists Chalhoub Group earlier this year.

Farfetch was created in 2007 by Portuguese entrepreneur José Neves and was launched in 2008. The online platform now sells luxury fashion online in 190 countries, offering product from more than 880 boutiques and brands from more than 40 countries.

In its most recent results, Farfetch’s loss after tax widened by 134% to $68m (£53.3m) for the six months to 30 June, while sales grew 55% to $267.5m (£209.2m).

Last year the business appointed Net-a-Porter founder Dame Natalie Massanet as its co-chair.

  • Read an interview with Farfetch founder José Neves here.

 

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