THE WHAT? Neiman Marcus-owned MyTheresa is planning to list on the New York Stock Exchange, according to a report by Reuters.
THE DETAILS The online fashion retailer is said to be working with Morgan Stanley on the listing.
The company is following in the footsteps of Farfetch and The RealReal to list on the New York Stock Exchange as opposed to Europe, as chosen by Zalando, Global Fashion and Asos. The listing could happen as early as April, according to Reuters.
While Neiman Marcus or Morgan Stanley declined to comment, it is expected that the company’s valuation could be around $500 million.
THE WHY? The move is said to be MyTheresa’s opportunity to take advantage of robust equity markets, and is the latest example of a private equity firm listing a better-performing retail asset.