Prada has filed for a stock market listing in Hong Kong where it hopes to raise as much as €2.1bn ($3bn) in an offering that could value the company at up to €10.5bn, making it one of the world’s most valuable luxury goods groups.
Prada chose the Hong Kong stock exchange instead of the Milan or London markets in recognition of the importance of Asian consumers who are propelling growth in luxury goods. Altagamma, an Italian association of luxury goods company, expects sales to Asia, excluding Japan, to rise 20 per cent this year.
Prada, which includes MiuMiu and Church’s with its namesake brand, is making its fifth attempt in a decade at a foray onto the stock exchange, with earlier moves abandoned due to deteriorating market conditions.