Sep 18, 2008
Prada ready for IPO but awaits calmer market-CEO
Sep 18, 2008
MILAN, Sept 18 (Reuters) - Italian fashion designer Prada still has its sights on a public offering when market turmoil subsides, its chief executive Patrizio Bertelli said on Thursday, according to a spokesman.
"The board confirms that the bourse continues to be our objective. We are ready for a quotation, naturally as soon as the markets return to normal," Bertelli had said, the spokesman added.
Bertelli said Prada, known for the idiosyncratic and innovative designs of Miuccia Prada, turned in an 11 percent rise in retail sales for the first half but full-year performance would depend on global markets.
Analysts and banking sources told Reuters last week that Prada and fellow Italian fashion designer Ferragamo were likely to delay listings into 2009, given market turbulence.
Prada will show off its latest collection for women on Sept. 23 in Milan.
(Writing by Jo Winterbottom; Editing by David Holmes)
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