Saks E-Commerce Business Seeks IPO in 2022

Saks Fifth Avenue’s (New York) e-commerce business is preparing for an IPO and is targeting a $6 billion valuation, reports Reuters. The IPO reportedly could take place in the first half of 2022.

Earlier this year, parent company Hudson’s Bay Co. separated the department store’s e-commerce business and established it as a stand-alone unit. At that time, the e-com business, called Saks, was valued at $2 billion.