Private equity-backed online fashion retailer Yoox goes public

The IPO, which would be the first on Milan’s MTA market since March 2008, may involve up to 24 million shares, of which 18 million would be sold to existing stakeholders and 6.24 million to new ones. The share pricing is expected to be in the €3.60 to €4.50 range.

The float would reportedly be for around 50 per cent of the company if all shares on offer are sold. The offering runs until the end of November, after which the company plans to list its stock in Milan on 3 December.

Yoox, which CEO Federico Marchetti describes as an e-commerce company that sells fashion instead of a fashion company, may be the only Italian fashion retailer to fulfil listing plans this year. Others, including high-end fashion house Prada, were forced to abandon plans after the recession hit their sales. In a news conference, Marchetti said that the company had not suffered during the economic slowdown.

Balderton recently sold its stake in web security software company ScanSafe when the company was purchased by Cisco for $183m. 

In April, 360° Capital led a €1m funding round in computer security specialist VUPEN Security.

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