A shoemaker turns billionaire with luxury goods IPO
Jose Neves, 44, owns 14.8% of Farfetch, valuing his stake at as much as $1.2 billion
By Bloomberg |
Getty Images
The founder of online luxury goods hub Farfetch has bagged a billion-dollar fortune. Shares of the London-based company closed at $28.45 on Friday after the firm’s initial public offering in New York the previous day.
Jose Neves, 44, owns 14.8% of Farfetch, according to a prospectus, valuing his stake at as much as $1.2 billion. Farfetch raised $885 million in Thursday’s IPO, selling shares above the company’s marketed range of $17 to $19 each.
Farfetch’s website helps global, deeppocketed shoppers get their hands on high-end goods such as an $8,287 leopard-print coat or $980 sneakers.
Jose Neves, 44, owns 14.8% of Farfetch, according to a prospectus, valuing his stake at as much as $1.2 billion. Farfetch raised $885 million in Thursday’s IPO, selling shares above the company’s marketed range of $17 to $19 each.
Farfetch’s website helps global, deeppocketed shoppers get their hands on high-end goods such as an $8,287 leopard-print coat or $980 sneakers.
Too busy to trade in stocks? Invest in Mutual Funds with ET Money!
Bookmark or read stories offline -
Download ET Markets APP
Download ET Markets APP
Related Articles
Crypto market crash: Why Bitcoin, XRP, Ethereum and altcoins are down today? Latest crypto market news and price analysis as BTC falls below $60,000, ETH plunges nearly 12%, and the Nasdaq Crypto Index drops almost 7%2026-06-05T19:29:00Z- Stock market news: National Fertilizers tanks 5% as company reports net loss in Q42021-06-11T06:12:42Z
- Stock market news: Talbros Auto hits upper circuit after robust Q4 results2021-06-09T05:29:03Z
ADVERTISEMENT
