Saks e-commerce unit looks to go public at valuation near $6 billion

The fast-growing e-commerce enterprise of luxurious retailer Saks Fifth Avenue is aiming to go public quickly at a valuation roughly triple what it was pegged at earlier this yr, in an indication of the growth instances for on-line department-store gross sales.

Saks is interviewing potential underwriters this week for an preliminary public providing that might happen within the first half of 2022 and targets a valuation of round $6 billion, individuals aware of the matter stated. It was final valued at $2 billion in March.