Italian online retailer Yoox is set to float on Milan’s stockmarket this week.
The etailer will float on the market tomorrow and shares in the company are being offered at at €4.30 (£3.89) each, the top-end of the range that was predicted by brokers.
The floatation and top-of the range share pricing is a shot in the arm for European online fashion retailers following the recession.
The share price has been taken from a multiple of 26 times on expected earnings for 2010, reflecting Yoox’ rapid growth and putting the etailer ahead of Asos.com which trades at 20 times earnings in London.
Established in 2000, Yoox sells brands such as Armani, Chloe, Dolce & Gabbana and Prada.
The etailer also designs and manages mono-brand online stores for fashion brands looking to offer their collections on the internet, including forMarni, Armani and Diesel.