The fashion powerhouse, which owns Prada, Miu Miu
and Churchs, reportedly expects to raise as much as $2bn from the sale of a 20% stake. Prada
will be the first European company to list shares in Hong Kong.
What does it mean? First of all, its another major signal that luxury brands view Asia as their most important region in terms of growth. China is the worlds fastest-growing luxury goods market. In 2011, analysts expect luxury sales in the country to race ahead 25% to reach a total of 11.5bn. About a third of Pradas stores are in the region, and theyre opening more every month.
The brands know how important Asia is, and so do potential investors. Pradas decision is a canny move calculated to appeal to funds and investors ready to back continued luxury industry growth in the region.
Listing is expected on 23 or 24 June, according to news sources.
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