Prada is studying a possible secondary listing in Milan

The Italian fashion house, listed in Hong Kong, plans to expand its investor base via a second listing.


The Prada luxury group is considering a secondary listing in Europe, in addition to its listing on the Hong Kong stock exchange, explaining that Asia remains a vital source of sales for the company.


Patrizio Bertelli, who with his wife Miuccia Prada built the Milan-based company into a global giant, explained that a listing in Milan would be “in line with the group’s heritage.” “There are many companies that are listed in two jurisdictions,” he commented to the Financial Times, adding, “Obviously we are not looking to leave Hong Kong – Asia is an extremely important market for our group.


He also reiterated the family’s long-term commitment to the company, saying they want to maintain the 80 percent stake they currently hold through Prada Holding SpA.


In June 2011, Prada raised $2.1 billion when it listed a 20% stake in Hong Kong. At the time, Italian luxury brands were enjoying a boom in Asia, and Prada hoped that a Hong Kong listing would allow it to capitalize on that popularity.


Today, bankers and analysts believe a dual listing would boost growth by diversifying the investor base. But the group and its advisers are exploring several options, and there is no guarantee that the Milan listing will happen at this time. There is currently no dual listing between Hong Kong and Milan and there are significant technical questions, including how shares would be traded between the two markets.


Prada revealed its half-year results on Thursday, posting net sales of 1.9 billion euros, up 22 percent from a year earlier. Retail sales rose 26 percent over the same period to €1.7 billion, a 38 percent improvement over 2019.


The group’s sales fell 7% in Asia Pacific in the first half of the year, but the region still remains its largest source of revenue. Retail sales for the first half of the year reached €590 million.


All other markets, including Japan, showed continued growth. Retail sales in Europe rose 89 percent to 486 million euros compared with the first half of last year, driven by domestic sales and an increase in tourism. Sales in North America rose 41 percent to 360 million euros in the first half of the year, up 116 percent from pre-pandemic levels.



Read also > Prada launches an NFT collection as part of its Time Capsule project


Featured photo : © Prada


Picture of Hélène Cougot
Hélène Cougot
Passionate about art and fashion, Hélène went to a fashion design school: the Atelier Chardon-Savard. She then completed her training with an MBA in Marketing at ISG. She has written for the magazine Do it in Paris and specializes in writing articles about luxury, art and fashion for Luxus +.

Subscribe to our Newsletter

Sign up now to receive sneak previews of our programs and articles!

Launch offer:

Your participation in the Camille Fournet Masterclass reserved for annual subscriber !

Luxus Plus Newsletter