Thursday, January 17, 2008

Breaking News: Prada To Go Public?

Yesterday's buzz on the fashion scene seemed to be about Isaac, Liz and Target. Today, the buzz is whether or not Prada would be FINALLY going public.

It seems this rumor has been flying around for the last seven years with no action but maybe now will be the right time or maybe not?
WWD reported that Prada had approved the start of the process for listing the company on the Milan Stock Exchange. The listing is planned for 2008, but, depending on market conditions, it may not be pursued. Who knows since market conditions are not very pretty- but, it's still exciting news!
The WSJ stated that their source indicated the IPO would be taking place in the 2nd half of 2008, around June. According to WWD, Prada is denying this information.
This is interesting because you don't usually hear about credability issues with the WSJ. I can only suspect this was true at the time the article was written but Prada now doesn't want to committ to a date based on current market conditions!
The deal would value Prada at $5.91 to $7.39 billion at current exchange.

No comments: