Farftech Founder/CEO José Neves Farfetch

U.K. based e-commerce company Farfetch has now filed for an IPO which is aimed to raise $100 million on the New York Stock Exchange standing out as one of the major startups to file for a public offering this year with the 10 year old e-tailer set to debut using the ticker ‘FTCH’ joining fellow tech companies on the NYSE.

Having raised about $700 million in total and valued at $1.5 Billion from its most previous financing round, Farfetch has grown to a very high level from its start with its platform now offering luxury items from nearly 1,000 brands and boutiques worldwide with nearly 1 billion users as of current.

The London headquartered company inked $386 million in revenue last year representing a 59.4% year-on-year growth with operating profits of $136.9 million for the first 6 months of this year although it still reports after-tax losses amounting to $68.4 million for the same period.

Gross Merchandise Volume (GMV) also grew by 55.3% from 2016 to $909.8 million last year as more customers purchase more goods on its high-end e-commerce service.

No current valuation has been pegged for Farfetch yet for its IPO but several reports have given different estimates, Business analytics service Pitchbook suggests a value of up to $8.37 Billion with other estimates coming around $6 Billion for the company.

“Farfetch is the leading technology platform for the global luxury fashion industry,” It states in its prospectus“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. We were founded ten years ago, and through significant investments in technology, infrastructure, people and relationships, we have become a trusted partner to luxury brands and retailers alike.”

Notable investors in Farfetch include JD, Temasek, IDG, Condé Nast, DST Global, Index Ventures and e.Ventures among others.

Its largest round came June last year with JD pumping a strategic $397 million investment into its business giving it access to JD’s huge logistics network, big data, payment services, social media partnerships and consumer finance tools among other useful resources to scale its business.

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