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.
Hong Kong-listed Italian luxury group Prada SpA has not decided whether to list in Milan as well, chief executive Patrizio Bertelli was quoted as saying on Thursday.
A dual listing in Europe would help Prada widen its investor base, as some investment funds can only put money in European or US stocks.
“No decision has been taken” on a secondary listing in Milan, Bertelli said in an interview with Italian daily newspaper Il Corriere della Sera.
Last month Bloomberg News reported that Prada was considering seeking at least $1 billion from a secondary listing in Milan and was working with Goldman Sachs on early preparations.
ADVERTISEMENT
Italian daily newspaper Il Sole 24 Ore reported on Tuesday that Prada aimed to list in Milan stock exchange next year.
The luxury group’s chairman Paolo Zannoni said in July a secondary listing in Milan was a possibility, but not a priority for Prada.
By Gianluca Semeraro; Editors: Maria Pia Quaglia and Alexander Smith
Learn more:
Prada Is Seeking at Least $1 Billion in New Milan Listing
The Milanese brand is working with Goldman Sachs on preliminary preparations for a potential offering, sources told Bloomberg.
The result confirms sector-wide fears that luxury demand would continue to slow.
IWC’s chief executive says it will keep leaning into its environmental message. But the watchmaker has scrapped a flagship sustainability report, and sustainability was less of a focus overall at this year’s Watches and Wonders Geneva.
The larger-than-life Italian designer, who built a fashion empire based on his own image, died in Florence last Friday.
This week, designers, collectors and major fashion brands will flock to Milan’s design fair. Also, LVMH reports first-quarter sales.