credit: amandabhslater
After 10 years of talks, Prada is going boldly forward where no other Italian company has gone before: the Hong Kong stock exchange.
- The company wants to expand its operations, and that means it needs cash. So it’s going after an initial public offering (IPO) in Hong Kong to raise money from investors.
- The IPO is expected to do well because of a favorable economic climate and the designer’s excellent reputation.
- If it follows through with the IPO, Prada will be the first European luxury brand listed on the Hong Kong stock exchange.
Facts & Figures
- Prada was founded in 1913
- Founder Mario Prada’s granddaughter currently owns 95% of the company
Best Quote
“Confident in the future development of the group, we can now face the coming challenges with serenity and seize the best opportunities offered by the international capital markets.” – Prada Chief Executive Patrizio Bertelli
What do you think?
What do you do when you need cash?