Farfetch files for New York IPO

Online fashion retail platform Farfetch has announced plans to list on the New York Stock Exchange.

The company said on Monday that the number of shares to be offered and the price range for the proposed offering have not yet been determined, but reports suggests the float could value the group at up to $5bn.

Goldman Sachs & Co, JP Morgan Securities, Allen & Company and UBS Securities are acting as joint lead book-running managers for the proposed offering. Credit Suisse Securities, Deutsche Bank Securities and Wells Fargo Securities are acting as joint bookrunners for the offering, while Cowen and Company and BNP Paribas are acting as co-managers.

Reports surfaced just over a year ago that Farfetch, which competes with the likes of Yoox Net-a-Porter and MatchesFashion, was planning a New York IPO.

Founded by Portuguese entrepreneur Jose Neves in 2008 and based in London with offices in 11 cities, the company sells clothing online from more than 700 designer brands, such as Burberry, Valentino and Saint Laurent.

In February, the company signed a deal with Burberry to sell the brand's clothing around the world. It also teamed up with Gucci last year to offer customers a 90-minute delivery service.