UK luxury retailer Farfetch aims for New York listing [Reuters (UK)]
JP Morgan Chase & Co. (JPM)
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Source: Reuters
UK luxury retailer Farfetch aims for New York listing | Reuters Reuters Staff 2 Min Read (Reuters) - Online fashion retailer Farfetch plans to float on the New York Stock Exchange, the London-based firm said on Monday, seeking to capitalize on rapid growth in luxury sales on the web. Competition to capture online shoppers has picked up among premium brands in recent years, pitting conglomerates like Louis Vuitton owner LVMH against independent operators as some firms scramble to make up for a slow move into e-commerce. Farfetch runs an online marketplace allowing people to buy luxury clothes or accessories from nearly 1,000 brands and boutiques worldwide, differing from some other models where sites hold stock. The company, which has yet to turn a profit in its 10-year history, plans to list with the symbol 'FTCH'. It did not disclose the number of shares it would sell or the offer price per share. ( bit.ly/2OPV9z8 ) It did not give a timeline for its long-awaited initial public offer
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