A British private equity fund linked to brothers Gérard and Alain Wertheimer, owners of the French Chanel group, is interested in taking over Italian fashion group Prada. Citing informed sources, the Italian newspaper Il Giornale writes about it.
According to the newspaper, negotiations are now underway and the value of the transaction could amount to six billion euros.
According to the newspaper, fashion designer Miuccia Prada and family representatives have already discussed the future of the fashion company in detail with representatives of the fund. The Prado family holds an eighty percent stake in the group, with the remaining shares traded on the Hong Kong stock exchange.
In the first three quarters of last year, Prada increased sales by seventeen percent to 3.34 billion euros.
CEO Andrea Guerra, who took over at the beginning of last year, is currently examining the possibility of a stock offering in Milan as well.
The company was founded in 1913 by Mario Prada, originally as a business selling handbags, luggage and silverware for the European elite.
Today, Prada is one of the world’s leading manufacturers of luxury goods such as handbags, shoes, leather goods, clothing and accessories. In addition to the main brand Prada, it also owns Miu Miu, Church’s and Car Shoe.
