Shoemaker Cobbles Together a Fortune With a Luxury Goods IPO

Farfetch founder Neves’s stake valued at about $1.2 billion
Website offers $8,287 leopard-print coats, $980 sneakers

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By Benjamin Stupples

September 21, 2018 at 4:45 PM UTC

Updated on

September 21, 2018 at 8:28 PM UTC

This article is for subscribers only.

The founder of online luxury goods hub Farfetch Ltd. has bagged a billion-dollar fortune.

Shares of the London-based company closed at $28.45 on Friday after the firm’s initial public offering in New York the previous day. Jose Neves, 44, owns 14.8 percent of Farfetch, according to a prospectus, valuing his stake at as much as $1.2 billion.