Saks.com IPO to potentially bring 6 billion dollar valuation

Saks.com Is moving forward with plans for its potential IPO, with plans to go public in the first half of 2022. The news was reported by Dow Jones.

Saks.com is targeting a valuation of 6 billion dollars, which is triple its worth in March. Earlier this year, Saks brick-and-mortar and Saks e-commerce spun off into two separate companies. There were also plans to spin saksoff5th.com into its own standalone business.

At the beginning of 2020, Hudson’s Bay Co. shareholders agreed to take the owner of Saks Fifth Avenue private after an eight-month fight that caused the company’s chairman to increase the offer twice. Saks.com’s IPO is an attempt to position the company to better compete with other luxury apparel e-commerce companies like Net-a-Porter and Moda Operandi.