Prada confirmed today that it will go ahead with an IPO on the Hong Kong stock exchange but did not commit to a timeframe for the float.
Prada said in a statement that strong growth and international expansion combined with a tight grip on costs meant that it was a good time to “seize the best opportunities offered by the international capital markets”.
Prada did not disclose the size of the stake it intends to offer.
Goldman Sachs, Banca Imi-Intesa Sanpaolo Group, UniCredit and CLSA-Crédit Agricole Group will co-ordinate and manage the IPO.
Prada also owns the Miu Miu brand and luxury footwear brand Church’s.