"Prada" is preparing to float on the Milan and Hong Kong stock exchanges

"Prada" is preparing to float on the Milan and Hong Kong stock exchanges

Prada design house has announced its intention to float on two leading stock exchanges of the planet - Milan and Hong Kong. The company could not take a final decision on the prospects of the placement of shares during the past year. And now, on the background of the recovering from the crisis "Prada" decided to place their securities for the public access.

To float their shares on two exchanges "Prada" has decided after consulting with one of the leading Swiss bank USB. According to the Italian edition La Repubblica, the Swiss suggested "Prada" to go directly to the two regional markets - Europe and Asia.

One of the oldest Italian companies in the field of fashion, "Prada", was founded in 1913. Initially the company was known as «Prada Brothers». At the dawn of the formation of business the main product of "Prada" was exclusively leather. After nearly a century, "Prada" was among the "pillars" of the Italian fashion business. Today, "Prada" is in line with internationally renowned fashion brands as Armani, Versace, Dolce and Gabbana. 2009 revenue exceeded half a billion euros.

“Prada” had been planning floating for a long time. However, due to problems with some of its units (in particular, with a fashion house “Fendi’ that "Prada" eventually sold to the company "Louis Vuitton"), the famous designer atelier until recently could not determine the final date of incorporation.

Prada family is currently the largest owner of designer houses. The family has 95 percent of "Prada". In addition, "Prada" also includes such trendy brands as Miu Miu and Church's. Headquartered of Prada S.P.A. is now in Milan.

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Date: 05/06/2010