Prada Plans To IPO In Hong Kong
Milan, Dec 22, 2010 AEST (ABN Newswire) - According to local media reports, the Italian luxury brand Prada is researching the possibilities of launching initial public offering in Hong Kong in the first half of 2011.
The insiders quoted in local reports said that if Prada chooses to be listed in Hong Kong, it may gain more capital than in its domestic Italian market, because the individual investors in Asia are more active.
Prada tried to get listed four times in the past ten years, but the plans were aborted due to various reasons. In addition, the company will make the final decision for whether to launch IPO or not before the end of 2010.
Headquartered in Milan, Italy, Prada eyes operating revenue of EUR2 billion in 2010 fiscal year; while its profit is expected to reach between EUR450 million and EUR500 million. Due to the recovery of the global luxury industry, Prada's loan level has obviously declined, and it recently opened several stores in the Asian markets.
In regards to the news about the IPO, Prada's spokesperson commented that the company is still observing factors such as the market conditions.
Source: China Retail News
About Prada
The PRADA Group is one of the world leaders in the luxury goods sector, operating actively with the Prada, Miu Miu, Church's and Car Shoe brands to produce and market high-quality handbags, leather goods, footwear, clothing and accessories. Furthermore, the Group operates in the eyewear, fragrances and mobile telephony sectors on the basis of license agreements. Its products are distributed in 80 countries around the world through 292 directly operated stores (DOS) and a network of selected luxury department stores, multi-brand stores and franchises.
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