MILAN — There’s still no word when Prada will finally go public, but the company is mulling several moves to cut its debt and bolster its balance sheet.
Prada is mum on just what those options might be, but a source close to the firm said possibilities include spinning offreal estate assets and integrating the Miu Miu brand into the Prada group. Prada’s debt, amassed during a buying spree of brands like Jil Sander and Helmut Lang, stood at $809.4 million as of June 30. (Dollarshave been converted from euros at current exchange rates.)
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?"