You were stunned by the first set of seven things you didn’t know about Prada, and now you are back seeking the juiciest insiders of them all! You have waited patiently, and we are finally here to fill you in. Find out where Prada’s profits are going, what they are doing in the stock market, and more when you keep reading!
Number Five: They Owe a Lot of Money. In the 1990’s, Prada was feeling just as risky as all of the other big wigs during the decade of the buying sprees. They put their faith in their investments, and it did not really go as planned. Because of this event, despite Prada’s success, they are still about 1 billion euros in debt.
Number Four: And They are Still Gambling. The profit from 2010, at over a half a billion dollars, would have made a nice dent in that, right? Well, Prada decided to use it in helping them to expand to Asia. The company supported its risky decision with plans for growth and strong promise for both the industry and the company. Hey, maybe it worked out for them.
Number Three: You Could Own a Piece of Prada. As they have been for over ten years now, Prada is contemplating the idea of an IPO. IPO stands for “Initial Public Offering”, and refers to a limited share company offering shares to the general public. So, you could really invest in Prada.
Number Two: But Hong Kong Gets the First Pick. Before anywhere else, Prada would have its first IPO located in Hong Kong. The reason behind this is their place in having accounted for an entire fifth of global IPOs the previous year.
Number One: They Want to be Public. In lieu of the IPOs, Prada has been approached and made offers from private equity firms. For those of you who don’t know, what this means is that the company would not be listed publicly on the stock market, so ownership would be privately traded when a deal was worked out. However, they turned down every single offer. We hope you enjoyed our list of 10 things you didn’t know about Prada!