Rumors Began Circulating Earlier This Year
Prada's potential Hong Kong IPO could be a game-changer
Once again, rumors are flying that Prada may be considering an IPO in Hong Kong rather than its home base of Milan, attracted by the prospect of a higher price in the red-hot Asian consumer market. We heard similar rumblings earlier this year in the wake of French skincare and personal care chain L’Occitane’s Hong Kong IPO, which Prada quickly denied. As a company spokesman told the AFP this week, though Prada has mulled an IPO four times in the last 10 years, a weak global economy has caused delays in the process. Now, with luxury demand on a global level greatly outpaced by Asia in general and China in particular, the time may finally be right.
From Bloomberg:
As always, this story — just like the recent rumors that a Chinese investor was quietly trying to become Prada’s largest shareholder — remains conjecture until we definitively hear otherwise.
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