Luxury online retailer Farfetch is reportedly leaning towards a flotation in New York, which could value it at up to $5bn (£3.9bn).
The UK-based company, which launched in 2008, is close to appointing bankers to work on the listing, Sky News has reported.
A flotation is expected to take place within 18 months. It is thought Farfetch will opt for New York, although a London listing has not been ruled out.
Last november, Farfetch chief executive José Neves confirmed a flotation was on the cards within two to three years.