PRADA: NO SANDER TALKS
MILAN — Prada on Thursday denied reports that it is in talks to sell Jil Sander.
“Prada Holding NV denies the existence of any talks, past or present, with anyone regarding the sale of Jil Sander,” the company said in a statement.
Prada denied reports in WWD that it is in talks with LV Capital, the venture-capital subsidiary of LVMH Moet Hennessy Louis Vuitton, about buying Sander.
The market is rife with reports that Prada plans to sell off some of its newly acquired businesses in a bid to bring more cash into the company and pay off its debt load of $1.16 billion. Prada has denied these reports.