Italian luxury goods house Prada has appointed advisers to work on an initial public offering next year.

The company, established by Mario Prada in Milan in 1913, will use the funds to expand in emerging markets such as India and China, where it has nine stores. It also wants to expand in more wealthy cities such as Barcelona.

“We are heading towards a new era in the company’s history,” Prada chief executive Patrizio Bertelli told The Times.

Prada – which is 95 per cent owned by Miuccia Prada, fashion designer and granddaughter of the founder, her partner Mr Bertelli and members of their family – had previously ditched listing attempts due to volatile markets.

Topics