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London-based luxury fashion website Farfetch plans New York flotation

Fartech's IPO is reportedly set to be valued at up to US$5bn

Burberry
Fartech signed a deal with Burberry in February to sell its clothing worldwide

London-based luxury fashion website Farfetch is planning to float on the New York Stock Exchange.

The company, which sells designer brands including Gucci and Burberry, said it has not decided on the number or price of the shares it plans to issue.

But it is understood the initial public offering could value the firm at up to US$5bn.

Milestone

Jose Neves, the Portuguese entrepreneur who founded the company in 2008, told the BBC in 2016 that a share flotation would be "the next financial milestone" for the company.

The group has filed a registration statement with the US Securities and Exchange Commission but it has not yet become effective.

Fartech signed a deal with Burberry in February to sell its clothing worldwide and last year it began offering a 90-minute delivery service for Gucci products to consumers in 10 cities including New York, London, Dubai and Los Angeles.

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