fraser collapse: 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, according to The Guardian. Mulberry warns House of Fraser collapse will damage profits Read more The company, which has yet to turn a profit in its 10-year history, did not disclose the number of shares it would sell or the offer price per share, but said the listing would take place in 2018. Competition to capture online shoppers has picked up among premium brands in recent years, pitting conglomerates such as Louis Vuitton owner LVMH against independent operators as some firms scramble to make up for a slow move into e-commerce. Goldman Sachs, JP Morgan, Allen & Co, UBS, Credit Suisse, Deutsche Bank, Wells Fargo, Cowen and BNP Paribas are underwriting the flotation. It has also paired up with labels such as Britain's Burberry to help make its inventory more widely available online. Facebook Twitter Pinterest Online fashion retailer Farfetch's headquarters in London Photograph Toby Melville/Reuters Farfetch, which competes with other online luxury platforms including MyTheresa or Matches Fashion, has also expanded as a technology firm, working with brands such as France's Chanel to link their stores to digital services including chatrooms.
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