Farfetch, a luxury fashion marketplace, opens on the New York Stock Exchange at $27
Farfetch announced Thursday that it priced its IPO at $20 a share hoping to raise $885 million in funding by selling 44,243,749 Class A shares. The company’s market cap is $5.8 billion.
- Farfetch has hit a high of $30.58 a share. They started their business focusing on fashion houses and boutiques who didn’t have an online presence.
- The luxury goods market was worth about $307 billion in 2017 is expected to reach $446 billion by 2025.
- “Farfetch is the leading technology platform for the global luxury fashion industry,” said Farfetch. “We operate the only truly global luxury digital marketplace at scale, seamlessly connecting brands, retailers and consumers. We are redefining how fashion is bought and sold through technology, data, and innovation.”