Prada Eyes Asia For Growth Of 3 Billion Hong Kong IPO

Prada Eyes Asia For Growth Of 3 Billion Hong Kong IPO
HONG KONG - The Italian fashion house Prada luxury announced Sunday that he was stronger growth in Asia, which aims to raise

as much as $ 3 million in a share sale in Hong Kong this month's highly anticipated above.

The fashion giant family, known for high-end leather bags and shoes, plans to sell 423.28 million shares, price range, HK $

36.50 HK $ 48.0 (U.S. $ 4.70-6 , 20) each, is slated to begin trading June 24

Milan-based company, has an option to sell an chanel handbags online, or 15

percent of supply, if the shares are oversubscribed, which will rise to 3.0 billion kroner.

The company launched its IPO on Monday.

"I am convinced that we made the right decision," its chief executive Patrizio Bertelli, during a news conference in Hong

Kong by videoconference from Milan, which describes the meaning of the Asiatic mode "more modern" and "more young people. "

"We will be the first luxury brand to go public in Hong Kong Stock Exchange. In fact, we have the first Italian company to go

public in Hong Kong," he said through an interpreter.

Prada has become a trusted leader Said Business plans to open 80 new stores around the world each year over the next three

years, of which 10 to 12 more stores a year for the rapidly growing Chinese market.

Prada and its bankers, said that investors are optimistic and expect to continue to "excited" with the Hong Kong offering,

despite the collapse in global equity markets.

Fashion House, including Prada, Miu Miu, Church's and Car Shoe brands, and 95 percent is owned by Prada and the leader of the

family is the latest high-end Chanel Handbags and

Purses to tap the large Chinese market.

Ads from upscale retailers such as U.S. designer handbag and luggage manufacturer Samsonite coach is considered a sign of the

growing appetite in Asia for products of famous brands, especially among the rich mainland Chinese cash.

China is the fastest growing market in the world for luxury goods.

It is expected to be the world's largest buyer of products such as cosmetics, handbags, watches, shoes and clothing in 2015,

according to consultancy PricewaterhouseCoopers.

Prada plans to use proceeds from the IPO in Hong Kong to develop its sales network, increasing floor space, repay bank loans

and capital extra work.