Harvey Nichols has unveiled a partnership with online marketplace Farfetch as the latter gears up for a float.
The upmarket department store retailer will sell accessories and clothes on Farfetch’s platform, with the aim of gaining exposure and pushing its own online presence – an area where it has previously struggled to gain traction.
For Farfetch, an online specialist in luxury brands founded in 2008, this is the latest in a raft of partnerships, including Burberry and Chanel.
According to the FT, Farfetch has reached out to JPMorgan and Goldman Sachs to work on its proposed US IPO.
A public listing on the New York Stock Exchange is expected to value the firm at around £4bn.
High street staple Marks & Spencer is currently worth £4.5bn, following a steady decline in share price over the past year, while Burberry has a market value of £7bn and Asos is valued at around £6.3bn.
Farfetch reported pre-tax losses of £34m in the year to December 31, 2016 as it invested in people and technology in preparation for its float.