Prada For Sale.

BoyAboutTown

BoyAboutTown

Member
Jul 10, 2006
499
2
#1
ITALIAN FASHION HOUSE PRADA IN SALES TALKS

Sun Jul 8, 12:02 PM ET YAHOO NEWS



LONDON (AFP) - A British billionaire is holding secret talks on buying Italian fashion house Prada, the Sunday Times reported.


Richard Caring, who made his fortune supplying many of Britain's leading clothes stores, is holding secret talks on the move, the weekly paper said, quoting unnamed sources from the City of London financial district.
At least two private equity houses are also interested in buying Prada, which is worth 1.3 billion pounds (1.9 billion euros, 2.6 billion dollars), the paper said.
It reported that these could include Permira and Carlyle.
Prada, known for its sleek, modernist tailoring, enjoyed a 63 percent increase in profits last year, taking them to 76 million euros.
It sold loss-making fashion labels Helmut Lang and Jil Sander in 2006.

:wtf:
 
#3
new update on this thing....
http://www.euro2day.gr/articlesfna/38506939/

Prada aims for an IPO next year
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By Tom Braithwaite
Published: 8/7/2007 | Last Updated: 8/7/2007 21:40 London Time

Prada, the Italian fashion house, has signalled it is aiming to float next yearin spite of a report that Richard Caring, the entrepreneur who owns The Ivy restaurant, could bid for the company.
"We are not in talks with him and the current plan, which will be delivered in the coming months, is a plan for an initial public offering," Prada said on Sunday.
Mr Caring, who could not be reached for comment, built a fortune supplying clothes to clients including Sir Philip Green's Arcadia. In recent years, he has switched his focus towards leisure pursuits with a portfolio that includes the Wentworth golf club and Annabel's nightclub.
Almost all of Prada is in the hands of Miuccia Prada, her husband and chief executive Patrizio Bertelli, and family members.
Prada said on Sunday that the IPO could come either next year or in 2009 and that a sale to a private equity bidder or an entrepreneur such as Mr Caring was not on the cards.
In December last year, a base valuation of €2bn (£1.35bn) was implied when it sold a 5 per cent ownership stake to Banca Intesa, now Intesa Sanpaolo, for €100m. However, the current appetite for luxury goods companies means Prada will be aiming for a valuation closer to €3bn.
 
#7
Good for them that they're thinking of taking it public -- I would wonder about quality down the line if it was sold privately. This way they can maintain control and leverage their popularity to raise money. Sounds like a win/win for Prada and Prada lovers.
 
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