The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
Italy’s Kiton is interested in a potential market listing but sees an initial public offer as a long-term project, the fashion group’s chief executive said on Thursday.
An IPO “is one of our plans for the future, but not something we do tomorrow morning.. it will take years”, CEO Antonio De Matteis said on the sidelines of an event in Florence.
He added that the family-owned group, which reported revenues of €160 million ($174 million) last year, was focused on growing under its own steam.
By Silvia Ognibene and Elisa Anzolin; Editor: Keith Weir
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The luxury goods maker is seeking pricing harmonisation across the globe, and adjusts prices in different markets to ensure that the company is”fair to all [its] clients everywhere,” CEO Leena Nair said.
Hermes saw Chinese buyers snap up its luxury products as the Kelly bag maker showed its resilience amid a broader slowdown in demand for the sector.
The group’s flagship Prada brand grew more slowly but remained resilient in the face of a sector-wide slowdown, with retail sales up 7 percent.
The guidance was issued as the French group released first-quarter sales that confirmed forecasts for a slowdown. Weak demand in China and poor performance at flagship Gucci are weighing on the group.