Earlier this week, there was speculation that Prada had offered a substantial share of the company to Swiss luxury group Compagnie Financière Richemont SA (see the MO Down 3/8). But a Prada spokesperson has since denied this report.
Now that Prada is no longer heading towards the poorhouse, we wonder if they’ll be as attractive to third party investors, whether they are private equity (TPG) or a luxury goods conglomerate (Richemont) …? Given Prada have secured extension of their debt they can continue with their expansion plans to the tune of their own Aria, well at least until 2012.
Click here to read more on their loan extension.