Prada SpA, an Italian maker of $2,950 leather handbags, said Miuccia Prada Bianchi will step down as the fashion company’s chairman and join her husband Patrizio Bertelli as co-chief executive officer.
Prada SpA, the Italian seller of the namesake luxury bags, rose the most in more than a month in Hong Kong trading after signing a licensing deal for Coty Inc. to create and distribute perfumes under the Miu Miu brand.
Prada SpA, the Italian fashion company that has scrapped initial public offerings four times in 11 years, may decide to proceed with an IPO by the end of the month, according to two people familiar with the situation.
Prada SpA, the Italian fashion house known for its triangular logo, said it will start the process for selling shares in an initial public offering in Hong Kong, as rising incomes in China spur demand for luxury goods.
Prada SpA and its owners raised about HK$16.7 billion ($2.14 billion) in this year’s biggest Hong Kong initial public offering after the company sold shares near the low end of its target amid a global stock-market slump.