Online fashion retailer Yoox has completed an initial public offering (IPO) on the Milan stock exchange, allowing a partial exit for Balderton Capital.

Online fashion retailer Yoox has completed an initial public offering (IPO) on the Milan stock exchange, allowing a partial exit for venture capital investor Balderton Capital.

London-based Balderton remains the largest institutional shareholder in Yoox following the IPO, which valued the company at €260 million (£235 million) at the float price of €4.30. The shares are now up 22 per cent to €5.23.

Led by founder and CEO Federico Marchetti, Yoox sells brands including Diesel and Armani and reported sales of €101.8 last year.

The company also manages online stores, both single and multi-brand, on behalf of fashion houses.