An online luxury fashion retailer jumped 50%

Shares in Farfetch, an online luxury fashion retailer, jumped 50 per cent on their trading debut, valuing the company at $8.6 billion as investors once again demonstrated huge appetite for technology flotations. The London-based start-up is the first European tech “unicorn” to go public after the share price of Adyen, a Dutch payments company, doubled when it listed on Amsterdam’s Euronext exchange this summer… Farfetch has grown rapidly in recent years, attracting investment from JD.com, the Chinese ecommerce group, last year and launching an Arabic language site in Dubai in May… Founded a decade ago by Mr Neves, a Portuguese entrepreneur, Farfetch has become well known for its rapid delivery service — which includes 90-minute deliveries of clothes made by Gucci in cities including New York, Los Angeles and London. The start-up runs a website selling clothes for brands including Gucci, Fendi and Valentino that ships to customers in 190 countries. With Yoox Net-a-Porter and MatchesFashion it is one of the three main luxury fashion platforms online… The company’s flotation is the latest in a line of European tech listings this year, including Adyen… and Spotify, the Swedish streaming service…

 

Aliya Ram and Nicole Bullock

 

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