The London-based luxury website, Farfetch, is filing for an IPO and hoping to be listed on the New York Stock Exchange.

The company, which sells designer brands such as Gucci, has said how much it plans to value it says but according to sources, the number is as high as $5 billion.

“This industry is still in its infancy,” said founder Jose Neves said in the company’s regulatory filing.

In 2017, the company made a revenue of $385 million, which is a 59 percent increase from the year previous.

At the end of 2017, Farfetch said it had almost one million (935,772), active consumers on the site. This figure grew by 43.6 percent over the following year.

“Farfetch is the leading technology platform for the global luxury fashion industry,” said the group.

“We operate the only truly global luxury digital marketplace at scale, seamlessly connecting brands, retailers and consumers. We are redefining how fashion is bought and sold through technology, data and innovation. We were founded ten years ago, and through significant investments in technology, infrastructure, people and relationships, we have become a trusted partner to luxury brands and retailers alike,” it added.

The group was founded in London in 2008 by Jose Neves. It has offices in 11 cities, including London, Tokyo and Los Angeles.

It express ships to over 190 countries.

Farfetch has grown through several partnerships including with JD.com in Asia and the Chalhoub Group in the Middle East. In 2015, purchased London fashion boutique Browns to invest into “retail technology” including touch-screen-enhanced mirrors and connected clothing racks.

Proceeds from the IPO will be used for working capital, including possible acquisitions.