Jan 27 (Reuters) - Italian luxury goods maker Prada could become the first European fashion house to list its shares on the Hong Kong bourse if its board approves the long-awaited move on Thursday. [ID:nLDE70L07R]
Here are some facts about Prada’s business history:
* Founded almost a century ago, Prada is run by designer Miuccia Prada and her chief executive husband Patrizio Bertelli.
Prada plans to open about 80 stores in 2011, 16 of them in China. It has 310 stores in 65 countries.
It expects record sales of 2 billion euros ($2.74 billion) in 2010 and core earnings of more than 500 million euros.
Europe is its biggest market, accounting for 42 percent of sales, while Greater China and the rest of Asia-Pacific together account for 40 percent.
* Miuccia Prada, her brother Alberto and sister Marina indirectly own 65 percent of Amsterdam-based Prada Holding BV. Bertelli’s Luxembourg-based holding company Pa.Be owns the rest.
Prada Holding owns 94.887 percent of the fashion company Prada SpA. Six years ago Italian bank Intesa Sanpaolo (ISP.MI) bought the remaining 5.113 percent stake for 100 million euros.
Bertelli has transferred half his stake in Pa.Be. to three companies for succession purposes and to prepare for an eventual market listing.
* Prada, which has debts of more than 1 billion euros — partly due to a buying spree during the 1990s — tripled net profit to 156 million euros in the nine months to the end of October, helped by its retail network expansion and growth in Asia.
Prada expects its Asian sales to overtake those in Europe over the next three years.
It plans to open design centres in Hong Kong and Paris this year.
* Prada has been considering an IPO for a decade. First planned for the Milan bourse, the share listing is now likely to take place in Hong Kong, which accounted for about a fifth of global IPOs last year.
Prada hopes to list in June. Analysts say a dual listing in Milan and Hong Kong would not suit a company of Prada’s size, so they expect Hong Kong will be the only venue.
Prada has turned down approaches by private equity firms. ($1=.7311 Euro) (Editing by Will Waterman)