According to foreign media reports quoted Hong Kong media, the well-known luxury brand Prada CEO Bertelli confirmed in an interview with the Italian daily Prada listed in Hong Kong in July or July plan and rule out the company listed simultaneously in Hong Kong and Milan may be, the Italian retail investors Who will not be able to invest directly in Prada, but only to buy mutual funds that incorporate Prada shares into their portfolios.
Prada women's fashion
Sources said Prada intends to issue 15% to 20% stake in Hong Kong, respectively, from their family members and the Bank of Italy, the Bank of Sao Paulo. Earlier market news that Prada intends to raise funds to yuan, mainly for the repayment of nearly 10.7 billion debt. The sponsors are Lyon, Goldman Sachs, Bank of Italy, Sao Paulo Bank and UniCredit. Analysts said Prada's valuation of about 5-6 billion euros.
The luxury group, founded in 1913, currently holds 95% of the shares in the hands of designer Miuccia Prada and her husband, Patrizio Bertelli, the company's chief executive. The other 5% is owned by Intesa Sanpaolo in 2006 Acquisition.
This is Prada's first year in 2012, the first plan for the market, the first four times the listing experience quite fortunate enough.
Prada's first planned listing date is September 18, 2001. Unexpectedly, disaster falls from heaven. Just a week ago this week, there was a September 11 incident. The global stock market plunged. In addition, the sales of luxury goods plummeted. Prada's IPO forced to run aground; 2002 Prada deliberately comeback twice in a row, but due to WorldCom (WorldCom) accounting scandal caused severe financial market turmoil, Prada had repeatedly delayed the listing. The fourth attempt to go public in 2008, but the global financial crisis made its fourth IPO plan also come to naught.
In addition to listing repeatedly stranded, Prada in the past 20 years of development is not flat, now, Prada has about 1 billion euros of huge debt.
Bertelli was ambitious in the nineties of the last century when Bertelli was hoping to create a luxury realm through mergers and acquisitions like LVMH. Prada has spent hundreds of millions of euros to acquire several small fashion companies, including the acquisition of large amounts of gold in 1999 Helmut Lang and Jil Sander. However, due to the fact that both parties could not reach an agreement on the design and management concepts, Jil Sander and Prada even experienced disputes over the coming days. The two acquired brands became a major reason for the loss of Prada Group for a long time and eventually Devaluation sell.
These two failed acquisitions put Prada back up by as much as 720 million euros of heavy debt, when it had annual sales of just 1.07 billion euros. To date, the initial € 720 million in debt has reached around 1 billion euros, of which Prada's direct debt is about 450 million euros and the rest to its parent company, Prada Holding's BV. Account. At present, Prada's financial situation seems to be indeed tight.
"Now is the time to prepare for an IPO, whether it's external conditions or Prada's internal situation," Armando Branchini, vice president of InterCorporate, an Italian consultancy, said last year.
Into 2010, the performance of major luxury brands are beautiful with the economy improved, Prada's performance is quite eye-catching. As of the end of October 2010 for the three quarters, Prada revenue of about 148 billion Hong Kong dollars, an increase of 31% over the same period, while profits more than tripled over the same period, recorded 1.667 billion Hong Kong dollars. A company spokesman said in an interview that as of the end of January 2011, the company's revenue is expected to exceed HK $ 21.39 billion.
Prada's direct store expansion strategy started in 2009 contributed to its development. In 2009, Prada invested 120 million euros for the construction of direct sales stores, mainly in Asia and Europe opened 33 new stores. In 2010, 30 new outlets were opened, mainly in the Asia Pacific region. Currently Prada in the world in 80 countries and regions have 282 outlets. Direct sales increased 41% in the first half of 2010, while Bertelli's goal is that direct sales in 2011 will reach over 70% of the company's total revenue. He also said Prada Group will continue to implement its current strategy in the next few years, develop in all markets in an all-round way and continue to develop the network of direct sales stores.
Listed in Hong Kong seems to be the unanimous choice of international brands to expand the market, the Chinese consumer market is unanimously optimistic.
As the luxury markets in Europe and the United States have fallen, the luxury market in Asia has been on the rise. The Hong Kong Stock Exchange has become the place of choice for European and North American companies looking to speed up the expansion of Asia. As the global IPO market picked up, Hong Kong became the global financial center attracting the largest number of listed companies in 2009 with an IPO volume of 31.8 billion U.S. dollars.
Close to China, a huge potential market for luxury spending, may be the main reason Prada chose to list in Hong Kong. "This has become the world's second largest consumer of luxury goods and may overtake the United States in the next five years to become the largest market for luxury goods consumption, while the current forces in mainland China Prada is also inferior to rivals Louis Vuitton and Gucci .If the IPO Represents a market, then we should go IPO in this market, "Bertelli told the Financial Times.
Bertelli said 19% of Prada Group's revenue came from Greater China last year, and analysts said the ratio would further rise to 25% by 2013, making it more advantageous to go public in Hong Kong. Although it is clear that the company will be excluded from the dual listing in Milan and Hong Kong's possibility, but Bertelli added that in the future may be concerned about the listing.
If everything goes well, Prada will become the first global luxury goods company listed in Hong Kong.
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