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Italian fashion house Prada in sale talks : report

By
AFP
Published
today Jul 8, 2007
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LONDON, July 8, 2007 (AFP) - A British billionaire is holding secret talks on buying Italian fashion house Prada, the "Sunday Times" reported.


Prada campagne publicitaire printemps-été 2007


Richard Caring, who made his fortune supplying many of Britain's leading clothes stores, is holding secret talks on the move, the weekly paper said, quoting unnamed sources from the City of London financial district.

At least two private equity houses are also interested in buying Prada, which is worth 1.3 billion pounds (1.9 billion euros, 2.6 billion dollars), the paper said.

It reported that these could include Permira and Carlyle.

Prada, known for its sleek, modernist tailoring, enjoyed a 63 percent increase in profits last year, taking them to 76 million euros.

It sold loss-making fashion labels Helmut Lang and Jil Sander in 2006.

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