Prada May Float In Near Future

Prada, the Italian luxury goods brand, increased sales by 15 per cent to 800m (GBP544m) at constant exchange rates in the seven months to the end of July, according to The Telegraph. The healthy rise in sales is likely to increase speculation that Prada will finally decide to press ahead with plans for a stock market flotation.

Speaking last week to The Sunday Telegraph, Riccardo Stilli, the group's chief financial officer, said Prada has completed the financial preparations needed for a flotation, but insisted that no decision on a listing had been taken. "As of today we do not know when and how we will go," he said.

The luxury goods company achieved double-digit sales growth across all five of its geographical regions - the Americas, the Far East, Japan, Italy and the rest of Europe. Prada has recently completed the refurbishment of its London flagship store on Old Bond Street. The revamped store is based on the design of Prada's Via Sant Andrea store in Milan.

Sales from Prada's UK outlets rose by 14 per cent to EUR17.3m (GBP11.7m) in the eight months to the end of August. Sales of Prada's ready-to-wear womenswear collection almost doubled over the eight months to August, while sales of ready-to-wear menswear ranges rose by more than 30 per cent.