Prada SpA , the Italian producer of Miu Miu bags and Church’s shoes, won approval from Hong Kong’s stock exchange for a $2 billion initial public offering, two people with knowledge of the matter said.
Prada SpA, the Italian fashion house known for its triangular logo, submitted an application to the Hong Kong exchange to hold an initial public offering in the city by July, said two people familiar with the company.
Prada SpA, the fashion house known for its Miu Miu bags and Church’s shoes, is planning the largest initial public offering of a family-owned Italian company since 2006. Investors in Prada’s hometown of Milan will have to reach about 5,800 miles away to buy the stock.
Bloomberg Markets’ inaugural list of the world’s richest people showcases the billionaires who pull the levers on the global economy. Their net worth totals $2.7 trillion, about the size of the gross domestic product of France, the fifth-biggest economy on the planet.
Chanel designer Karl Lagerfeld, with his shock of white hair, black glasses and leather gloves, will be the center of attention in Paris next Tuesday when he debuts the luxury-goods company’s latest ready-to-wear collection during the city’s Fashion Week.