Prada aims for IPO for $10.7 Billion Valuation; Miu Miu launches replica mini bags

Posted by Helen Lee at 2:46 am April 1st, 2011 | 1 comment

It’s all happening at the house of Prada, it was just announced today that Prada SpA have submitted an application to the Hong Kong exchange which values the Italian fashion house at US$10.7 billion, excluding debt. The move to sell shares in Hong Kong is seen by industry experts as Prada’s way to tap into local funds and investors as the luxury market continues to grow in Asia. According to the Bloomberg report, this is the fifth time in the last 10 years Prada has attempted to sell their share with the Prada SpA’s profit more than doubled last year on growth in the Asia-Pacific region.

It will be set to grow even more with another announcement out of Prada’s New York press office that the little sister brand Miu Miu has just launched miniature size versions of their most iconic bags as bag or key charms. Retailing at US$380 each, the Miu Miu replica minibag charms are available in Miu Miu boutique around the world and we think they’re the cutest thing ever.

Next time we’re in a Miu Miu boutique we may have to snap one up…

Images supplied by Prada