Industry chatter | Prada's IPO

At a time when all fashion advertisements are beginning to look the same, you can always count on Miuccia Prada to keep things interesting. Her new campaign for Spring/Summer 08 reflects the sweet optimism of her collection shown last September in Milan. It could have come right out of A Midsummer Night's Dream with all its nymphs and fairies.

Remarking on Prada's dramatic move away from tougher designs in seasons past, Sarah Mower said "when Miuccia is fed up with being perverse in the anarchic-fierce way, she'll change tack yet again and go against the grain by being so sweetly unchallenging you (almost) can't recognize her." 

But are things as rosy for Prada on the IPO front?

This was the question on everyone's lips as luxury industry observers debated the fallout of one of the most volatile weeks for the markets in recent memory. Earlier in the week, Tommy Hilfiger's IPO, also scheduled for 2008, was pulled by Apax Partners which begged the question, would Patrizio Bertelli have to call off Prada's IPO for the fourth time in a row?

A

[ report by Dow JonesOpens in new window ]

last week cited a source close to the Prada who said that the IPO was being planned for June 2008. The next day,

[ Prada deniedOpens in new window ]

that a timetable was in place and asserted that the timing would be based on prevailing "market conditions," but that they still planned to list the stock this year.

[ Blogging Stocks said Opens in new window ]

that if the Prada folks were still planning on a flotation, then it must be for good reason.

In related (but only tangentially) news, men's MiuMiu will not figure in Prada's public future. Prada announced its decision to halt production of the men's MiuMiu collection. While the women's business has chalked up 100% growth in the past two years to $297 million, the men's business has been a laggard. The writing was on the wall, however, as most MiuMiu stores (London, Paris, Milan) had already rid themselves of menswear.

Images courtesy of Prada.

© 2008 Copyright Imran Amed - The Business of Fashion