MILAN — Prada is eyeing an initial public offering again — this time for the first quarter of 2012.
While the brand has been down this road before, the company has several reasons to make it happen on the fourth attempt. First, the timing coincides with the expiration of Prada’s loan of 450 million euros, or $556 million at current exchange, granted by a string of banks — Intesa Sanpaolo, UniCredit, Calyon, Banca Leonardo, Banca Popolare and Centrobanca. In August, the lenders agreed to postpone the term payment initially due to be repaid in two installments, one in July 2009 and the other the next month.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"