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

Saks Fifth Avenue ecommerce unit aims for IPO at 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

The ecommerce business of luxury department store  Saks OFF 5TH 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.

 

(Reporting by Sheila Dang; Editing by Daniel Wallis)

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