SHARES

Online fashion retailer Farfetch has announced plans to list on the New York Stock Exchange.

Reports have suggested the share offer could value the business at £4 billion.

The company has not yet decided on the number of shares or the price range for the proposed offering.

Farfetch sells designer clothing online, helping luxury brands such as Gucci and Burberry boost their web sales.

The business was launched by Portuguese businessman Jose Neves in 2008, selling products from 25 fashion boutiques in five countries.

By 2016, it had nearly 500 boutique and 200 direct brand partners. It raised £87m that year in a funding round which saw Singaporean investment fund Temasek become a shareholder.

Earlier this year, Farfetch unveiled its first department store partner, Harvey Nichols, while it also launched a mentorship programme for aspiring start-ups.