Russia’s KupiVIP Seeking $125 Million in 2014 IPO, Founder Says

MOSCOW, Russia -- KupiVIP, the Russian online fashion retailer, is seeking to raise $125 million in an initial public offering next year to fund warehouse construction and expand delivery network, its founder said. Goldman Sachs Group Inc. and Jefferies & Co. are among advisers KupiVIP has held discussions with about the planned stock sale in New York, though no mandate has been offered, founder and Chief Executive Officer Oskar Hartmann said. KupiVIP started in 2008 helping fashion brands get rid of excess inventory with limited-time sales online, selling items such as a Valentino dress for $480 or Adidas shoes for $155. The company, which has almost 10 million users, is expanding into non-discounted retail with a new store, shoptime.ru. “Russia is…

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