Luxury Brand Prada Plans To Be Listed In Hongkong?

Prada's 2010 fiscal year sales information was released on Monday. In spite of the impact of Japan's tsunami, Prada's net profit reached 251 million euros (US $336 million) in January 31st, and its growth rate reached 150.4%. Operating income reached 2 billion 50 million euros ($2 billion 750 million), an increase of 31.1% over last year.

Miuccia Prada and her husband, CEO Partizio Bertelli own 95% of the company's shares, and the other 5% are owned by Intesa.

Bertelli said, "Prada group has a strong industry and distribution structure, and can seize the best opportunities offered by the market."

Interest and taxes, profit before depreciation and amortization (EBITDA) increased by 84.7% in 2010 compared with the same period last year, to 5 billion 359 million euros. Interest and tax revenue increased by 123.7% to 5 billion 606 million euros.

The Prada group has a cash flow of about 3 billion 677 million euros, helping to cut 4 billion 86 million euros in debt. Sales in the Prada retail sector grew by 44% over the same period last year, exceeding 70% of the company's total revenue. Wholesale wholesale revenue rose by 9.4 percentage points.

Prada has 104 direct outlets in the Asia Pacific region, with sales growth of 63 percentage points to 6 billion 457 million euros. The market is still crucial to its company. According to the news, at the end of the month, Prada plans to launch a stock on the Hongkong stock exchange. At present, Prada has not yet determined the time frame and the size of the shares sold. Although the global stock market is rocking after Japan's earthquake and tsunami disaster, Prada is still optimistic about it. Analysts believe that the new IPO will be listed as soon as possible this spring, and the market value of Prada will reach $9 billion 500 million.

This year, Prada plans to open shops in nine cities in the mainland of China, such as Harbin, Guangzhou, Changchun and Hangzhou. Another 11 shops will open in 2012. In January, Prada held a fashion show in Beijing and said that it would set up a studio here.

The Prada foundation said on Monday that another development project under way will help restore and rebuild the historic Baroque building Palazzo Ca 'Corner in Venice, built between 1724 and 1728. The reconstruction project will be signed with the Venice foundation Musei Civici diVenezia. The rebuilt buildings will be partially opened at the end of May to develop another project aimed at promoting cultural and art exhibitions and research.

Prada, the famous luxury brand, had planned to list in Hongkong. Analysts believe it will be fulfilled in the first half of this year, and the market price of the company may reach $9 billion 500 million. According to media reports, the Italy luxury brand has signed an agreement with the Hongkong stock exchange to list the 20% stake of the group in order to seek a higher valuation in Hongkong. On Tuesday, a spokesman for Prada declined to comment on the news.

Media said that due to restrictions in Hongkong, Prada must declare the news after the dust settles. According to another media, we still need to wait for 60 days before the document is approved or the transaction can be realized. And after the document is signed, it will take 2 to 3 weeks for marketing to be announced by the government. That is to say, if Prada is to be listed in June, the listing agreement will be signed this week.