Prada SpA, the Italian maker of $2,950 leather handbags, dropped the most in nine months after forecasting slowing sales growth this year amid a maturing Chinese market and softer demand in Europe.
Prada is being investigated by Italian prosecutors for possible tax evasion after the luxury- goods company disclosed undeclared taxable income, a person with knowledge of the probe said.
Prada SpA, buoyed by surging profit at the eponymous fashion label, is exploring options to revive an initial public offering, according to four people familiar with the talks.
Prada SpA, the Italian maker of $2,200 cobalt blue totes, reported a 29 percent increase in full-year sales, led by demand in Europe and Asia.
Prada SpA fell the most in more than two years in Hong Kong trading after profit missed analysts’ estimates amid subdued Chinese spending in Europe.