Saks Fifth Avenue ecommerce unit aims for IPO at $6 billion valuation – WSJ

FILE PHOTO: A Saks Fifth Avenue is pictured during the spread of the coronavirus disease (COVID-19) in the Manhattan borough of New York City, New York, U.S., October 19, 2020. REUTERS/Carlo Allegri

(Reuters) – The ecommerce business of luxury department store Saks Fifth Avenue is preparing for an initial public offering and targeting a $6 billion valuation, the Wall Street Journal reported Sunday, citing sources.

The company is interviewing potential underwriters this week for an IPO that could take place in the first half of next year, according to the report.

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