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


© Reuters. FILEPHOTO: Saks Fifth Avenue, New York City is shown during spread of coronavirus disease COVID-19 in Manhattan Borough, New York City. October 19, 2020. REUTERS/Carlo Allegri

(Reuters) – Saks Fifth Avenue, a luxury department store, is preparing an initial public offer and aiming for a valuation of $6 billion, according to the Wall Street Journal, citing multiple sources.

According to the report, the company has been interviewing possible underwriters for an IPO which could occur in the first quarter of next year.

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