Friday, December 3, 2021

Saks e-commerce unit looks to go public at valuation near $6 billion

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The fast-growing e-commerce business of luxury retailer Saks Fifth Avenue is aiming to go public soon at a valuation roughly triple what it was pegged at earlier this year, in a sign of the boom times for online department-store sales.

Saks is interviewing potential underwriters this week for an initial public offering that could take place in the first half of 2022 and targets a valuation of around $6 billion, people familiar with the matter said. It was last valued at $2 billion in March.

This artical is first shown on Market Watch Source link Author on date 2021-10-17 23:28:00
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