Italian fashion house Prada in sale talks : report

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.

Copyright © 2019 AFP. All rights reserved. All information displayed in this section (dispatches, photographs, logos) are protected by intellectual property rights owned by Agence France-Presse. As a consequence you may not copy, reproduce, modify, transmit, publish, display or in any way commercially exploit any of the contents of this section without the prior written consent of Agence France-Presses.

Fashion - Ready-to-wearLuxury - MiscellaneousMediaCollection