Best known for peddling beautiful clothes and iconic handbags, Prada is soon to have something else for sale: company stock.
Prada is close to becoming the first Italian company to be listed on the Hong Kong stock exchange. The luxury brand is expected to be valued around 6 billion Euro if it goes public on the Asian market.
The Italian fashion sector has been under-represented on the stock market, and Prada hopes to take advantage of the demand for luxury goods in spite of the recession.
With a promising company outlook, don’t expect any deals from the design house. Miuccia Prada recently announced that she would not consider designing a bargain line for less affluent shoppers. While other designers have signed deals with stores like H&M, Mrs. Prada declared that her label will never make more affordable options.
"I have never even considered [fast fashion] and I’ve explained why. It’s because I don’t like the idea of a bad copy of what one does for the main brand," she told Women’s Wear Daily.
Protecting the Prada brand may disappoint some fashionistas hoping for a designer steal, but the plan bodes well for Prada’s stock market ambitions.
