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Fourth Time's A Charm: Prada Plans For IPO For Next Year

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Prada SpA, the Italian fashion label that makes Miu Miu bags and Church's shoes, hired Goldman Sachs Group Inc., Intesa Sanpaolo SpA and UniCredit SpA to arrange an initial public offering planned for next year.

The proposed listing will depend on ``market conditions,'' the Milan-based company said in an e-mailed statement today. Law firm Bonelli Erede Pappalardo will act as legal adviser.

An IPO may value Prada at about 5 billion euros ($7.2 billion) and would be the biggest in the luxury goods industry, a person familiar with the plan said last month. Prada, which has scrapped three listing attempts this decade, is focusing on Miu Miu, Church's and its namesake brand after selling the unprofitable Jil Sander and Helmut Lang labels.

Read the whole story at Bloomberg