Prada IPOs in Hong Kong
I first read about this in the IHT, but there didn’t seem to be much news in the local media. It seems that Prada has been waiting to IPO in Europe for 10 years now, and then finally decided to do so in Hong Kong. The media says it’s about Chinese investors “‘get[ting]’ the story of rapidly-growing consumption of luxury goods in the region” — i.e. the Europeans do not see it. Maybe; but does it also have to do with Europe’s shrivelled capital market?
Also, I’d like to take a good read of the IPO prospectus — just to see where the funds are going. Repaying debt? Expanding its Chinese business?
I.T. Acquires Bape
Rather, I.T. acquires Nowhere Co., of which Bape is a subsidiary. I suppose demand for Bape’s products has been going downhill for quite a while — which is why I was rather surprised when they opened a store at the Mandarin Gallery. I’m going to have a good look at updates on this acquisition as well, but only because I’m very interested in the I.T. group in Hong Kong, which carries Yohji, Isabel Marant, and Tsumori Chisato.