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Prada

August 30, 2011

The luxury sector continues to be highly profitable for the family businesses operating within it with the latest results from top shoemaker Salvatore Ferragamo confirming the boom.

The luxury sector continues to be highly profitable for the family businesses operating within it with the latest results from top shoemaker Salvatore Ferragamo confirming the boom.

July 29, 2011

The family behind French chip card maker Oberthur is in talks to sell part of the business to outside investors, in an attempt to fund a bid to purchase a UK company.

The family behind French chip card maker Oberthur is in talks to sell part of the business to outside investors, in an attempt to fund a bid to purchase a UK company.

According to the Financial Times, the Savare family, which currently owns 92% of the maker of SIM cards and electronic passports, plans to retain a 40% stake and sell the remaining to private equity bidders.

July 25, 2011

The family behind the luxury goods maker Ferragamo has upped its stake in the company by 2%, following a sale of shares by the Hong Kong-based Woo family.

The family behind the luxury goods maker Ferragamo has upped its stake in the company by 2%, following a sale of shares by the Hong Kong-based Woo family.

According to Reuters, the Ferragamo family’s holding company has increased its stake to 58.24% from its earlier 56%.

This rise came after the family’s long-time partner, businessman Peter Woo, cut his stake in the Italian shoemaker. Reuters said the company filing showed that Woo sold a 2% stake for €30.3 million, at €9 per share.

June 16, 2011

Italian luxury goods maker Ferragamo, controlled by members of the founding family, will list up to 25% of the family’s stake on the Milan stock exchange, as part of its plans to raise funds for expansion.

Italian luxury goods maker Ferragamo, controlled by members of the founding family, will list up to 25% of the family’s stake on the Milan stock exchange, as part of its plans to raise funds for expansion.

The company said that following the IPO, the Ferragamo family holding company will hold a 56% stake in the company, with another 11% held by individual family members. In March, the family sold an 8% stake to the Hong Kong-based Woo family in an attempt to strengthen its market presence in Asia.

April 28, 2011

Family-controlled luxury goods maker Prada announced on 28 April that it has formed a joint venture with a company in the United Arab Emirates, which is Prada’s first attempt to expand in the Middle East.

Family-controlled luxury goods maker Prada announced on 28 April that it has formed a joint venture with a company in the United Arab Emirates, which is Prada’s first attempt to expand in the Middle East.

Prada, controlled by the husband-wife team of Miuccia Prada and Patrizio Bertelli, said in a statement that it has signed a joint venture agreement with Dubai-based Al Tayer Insignia to distribute its brands in the Middle East. Prada doesn’t have any directly operated stores in the region so far.

April 14, 2011

Italian luxury goods maker Ferragamo, majority-controlled by members of the founding family, plans to list its shares in Milan, said reports.

Italian luxury goods maker Ferragamo, majority-controlled by members of the founding family, plans to list its shares in Milan, said reports.

The Florence, Italy-based Ferragamo has filed its initial public offering with the Italian stock exchange, according to Italy’s business newspaper Milano Finanza. Reports say it will list 30% of its shares in Milan by July. When contacted, the group was unavailable for comment. Reports also said that the listing, intended to fund expansion, could value the company at around $2 billion.

March 29, 2011

Family-controlled fashion group Prada announced on 29 March that its sales for 2010 rose by over 30%, buoyed by strong demand in the Asia-Pacific region, but made no comment about speculation it is planning an IPO.

Family-controlled fashion group Prada announced on 29 March that its sales for 2010 rose by over 30%, buoyed by strong demand in the Asia-Pacific region, but made no comment about speculation it is planning an IPO.

The Milan-based company said in a statement that its revenues increased to €2.05 billion, up from €1.56 billion the previous year. With brands including Miu Miu and Church under its umbrella, the Italian group’s net profits doubled in 2010 to €250.8 million.

January 28, 2011

Fashion group Prada said it plans to list its shares in the Hong Kong Stock Exchange, as it looks to exploit its name in Asia where it sells a sizeable chunk of its brands.

Fashion group Prada said it plans to list its shares in the Hong Kong Stock Exchange, as it looks to exploit its name in Asia where it sells a sizeable chunk of its brands.

Analysts say that the initial public offer could value Prada at more than $8 billion. With demand for luxury goods on the rise in Asia, Prada has bargained that the timing of the listing would be ideal.

June 15, 2009

The Prada family has denied claims it wishes to sell 40% of the family-owned company to an outside investor.

The Prada family has denied claims it wishes to sell 40% of the family-owned company to an outside investor.

"We are not pressed to sell shares in an IPO, and we want to wait for the right moment," third-generation family owner Miuccia Prada said in an interview with CNN. Several private-equity companies have expressed an interest in a stake in Prada, but no negotiations are currently underway.

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