×
1 864
Fashion Jobs
VF INTERNATIONAL
dc Team Leader
Permanent · COALVILLE
EUDON CHOI
Production Manager
Permanent · LONDON
TK MAXX
Loss Prevention Officer - tk Maxx Bristol
Permanent · Bristol
LONDON CONTOUR EXPERTS
Marketing Executive/Junior Manager
Permanent · LONDON
ESTÉE LAUDER
Tom Ford - Business Manager - Flannels - Fosse Park, Leicester - 37.5 Hours - Full-Time - Permanent
Permanent · Leicester
VF INTERNATIONAL
International Account Coordinator - Ftc 12 Month
Permanent · NOTTINGHAM
TIMBERLAND
Credit Controller - German Speaking - Timberland
Permanent · CALVERTON
THE NORTH FACE
Credit Controller - Italian Speaking - The North Face
Permanent · CALVERTON
THE NORTH FACE
Credit Controller - French Speaking - The North Face
Permanent · CALVERTON
PINKO
Supervisor
Permanent · MANCHESTER
RALPH LAUREN
Operations Manager
Permanent · Cheshire
ESTÉE LAUDER
Clinique - Consultant - Lisburn, Boots - Sprucefield - 30 Hours - Full Time, Permanent
Permanent · Lisburn
ESTÉE LAUDER
Clinique - Consultant - Edinburgh, John Lewis - 37 Hours - Full-Time, Permanent
Permanent · Edinburgh
ESTÉE LAUDER
Clinique - Consultant - Lisburn, Boots - Sprucefield - 30 Hours - Full Time, Permanent
Permanent · Lisburn
ESTÉE LAUDER
Clinique - Consultant - Lisburn, Boots - 30 Hours - Full Time, Permanent
Permanent · Lisburn
ESTÉE LAUDER
Clinique - Consultant - Lisburn, Boots - 30 Hours - Full Time, Permanent
Permanent · Lisburn
ESTÉE LAUDER
Clinique - Consultant - Lisburn, Boots - 30 Hours - Full Time, Permanent
Permanent · Lisburn
ESTÉE LAUDER
Clinique - Consultant - House of Fraser, Maidstone - 15 Hours - Part Time, Permanent
Permanent · Maidstone
ESTÉE LAUDER
Clinique - Consultant - Boots, Princes Street, Edinburgh - 14 Hours - Part Time - Permanent
Permanent · Edinburgh
ESTÉE LAUDER
Clinique - Consultant - Lisburn, Boots - 30 Hours - Full Time, Permanent
Permanent · Lisburn
HUGO BOSS
Wholesale - Senior Sales Executive - Hugo Womenswear
Permanent · London
ESTÉE LAUDER
Clinique - Consultant - John Lewis, Edinburgh - 16 Hours - Part Time, Permanent
Permanent · Edinburgh
By
Reuters
Published
Jan 27, 2011
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Catwalk queen Prada nears Hong Kong IPO decision

By
Reuters
Published
Jan 27, 2011

Jan 27 - The board of Prada, one of the world's best-known fashion names, decides on Thursday on a long-awaited initial public offering in Hong Kong, which would make it a trailblazer for the European fashion industry.

Prada
Prada's advertising campaign for S/S 2011

The owner of Miu Miu, Church's and Car Shoe brands aims to use the Hong Kong listing to trim debt of around 1 billion euros ($1.3 billion). The IPO would also fund growth in Asia, where Prada expects its sales to overtake those in Europe over the next three years.

Analysts estimate Prada -- known for its innovative fabrics and unconventional styles -- could aim to raise 1.2 billion euros by selling a third of its shares at a multiple of 10 times its projected 2010 core earnings.

Prada could be worth from 5 billion euros to 6 billion euros overall in favourable market conditions, analysts say.

Prada has scrapped a share offering at least three times due to volatile markets and would be the first European fashion house to list on the Hong Kong bourse. No Italian company is traded in Hong Kong.

The 98-year-old family-run company, whose trend-setter designer Miuccia Prada has gone from being a 1970s leftist to one of Europe's most prominent businesswomen, could encourage other luxury goods companies to go public.

The 60-billion-euro Italian sector is under-represented on the stock market. Fashion houses such as Ferragamo and Moncler have said they might float when markets recover.

A listing could involve the issue of new shares, analysts said. Hong Kong bourse guidelines also require management changes, including two executive administrators based in Hong Kong and three independent administrators.

Prada SpA is 95 percent owned by the families of Chief Executive Patrizio Bertelli and his wife Miuccia. Italian bank Intesa Sanpaolo owns the rest. Among the banks mentioned as bookrunners are UniCredit, Intesa Sanpaolo -- both sitting on the company's board -- Goldman Sachs Group Inc and brokerage firm CLSA, a Hong Kong division of Credit Agricole Securities, according to sources close to the issue.

When Prada delayed its latest IPO attempt in 2008, some speculated it could not float at all. It has also turned down approaches from private equity firms.

By Antonella Ciancio
(Reporting by Antonella Ciancio; Editing by Will Waterman)

© Thomson Reuters 2021 All rights reserved.