Prada considers Hong Kong IPO
Italian luxury goods company Prada is set to file a listing application for a Hong Kong IPO that could be worth almost $2 billion, Reuters reports. The Milan-based company, known for its colorful Miu Miu dresses and Prada handbags, planned to list in Hong Kong at the end of June. Prada would be only the […]
Italian luxury goods company Prada is set to file a listing application for a Hong Kong IPO that could be worth almost $2 billion, Reuters reports.
The Milan-based company, known for its colorful Miu Miu dresses and Prada handbags, planned to list in Hong Kong at the end of June.
Prada would be only the second company from Western Europe to list in Hong Kong, after L’Occitane International.
The fashion house run by Patrizio Bertelli and designer Miuccia Prada has about a third of its 326 directly operated stores in the Asia Pacific region.
Some 38.3% of Prada’s consolidated net sales for the year ended 31 January 2010 (and more than 47% for the MiuMiu brand) were generated in the region.
By listing in Asia, Prada will also benefit from the increasingly significant purchasing power of China’s middle class, and from a lack of directly competing stocks in Hong Kong.
