86 100
Fashion Jobs
RALPH LAUREN
Associate Manager
Permanent · HERSHEY
A & F
Abercrombie & Fitch - Assistant Manager, International Market Place
Permanent · HONOLULU
A & F
Hollister CO. - Brand Representative, Galleria at Tyler
Permanent · RIVERSIDE
FOOT LOCKER
Director of Safety (Supply Chain)
Permanent · CAMP HILL
LEE
PT Keyholder, Estero, FL
Permanent · ESTERO
URBN
Free People: Merchandise Planning Manager
Permanent · PHILADELPHIA
URBN
Free People: Senior Merchandise Planner
Permanent · PHILADELPHIA
KOHLS
Operations Supervisor - Weekend Overnights
Permanent · EDGEWOOD
KOHLS
Full-Time Loss Prevention Officer
Permanent · SOUTH BURLINGTON
ADIDAS
Key Account Manager: Athletic Footwear
Permanent · PITTSBURGH
KOHLS
Full-Time Loss Prevention Supervisor
Permanent · GOSHEN
KOHLS
Full-Time Loss Prevention Supervisor
Permanent · NAPLES
KOHLS
Shift Leader/Operations Manager - Weekend Night Shift
Permanent · PATASKALA
AMERICAN EAGLE OUTFITTERS
Aerie - Merchandise Leader (Part-Time) - us
Permanent · POOLER
AMERICAN EAGLE OUTFITTERS
ae - Merchandise Leader (Part-Time) - us
Permanent · MURFREESBORO
AMERICAN EAGLE OUTFITTERS
Aerie - Merchandise Leader - us
Permanent · KAPOLEI
NAVY EXCHANGE
Buyer (Level i) - Beauty Care
Permanent · VIRGINIA BEACH
NAVY EXCHANGE
Buyer (Level i) - Pet
Permanent · VIRGINIA BEACH
GAP INC.
Asset Protection Service Representative - Harlem Usa
Permanent · NEW YORK
GAP INC.
Asset Protection Coordinator - Mount Vernon Plaza
Permanent · ALEXANDRIA
BANANA REPUBLIC
Associate Art Director, Photo Studio
Permanent · SAN FRANCISCO
ECCO
Third Keyholder
Permanent · SAN FRANCISCO
Published
Jul 13, 2010
Reading time
2 minutes
Download
Download the article
Print
Text size

Prada confirms 360 million Euro loan

Published
Jul 13, 2010

Prada has been under constant discussion in the press since February this year when the label formally denied any negotiations with Swiss group Richemont over a sale of a minority share of its capital.

Prada
Prada spring/summer campaign 2010

As a reminder, creator’s and founder’s Miuccia Prada and her husband, partner and Managing Director, Patrizio Bertell have almost exclusive ownershi of the group.

History repeated itself on Monday as Chinese tycoon Li Qiang announced it had acquired 13% share in the Italian luxury group over the last two years. This would’ve meant it would become the largest shareholder. The firm quickly rectified the error however and reminded us that the family still owned 94.89% and the rest is under the control of Banca Intesa Sanpaolo.

Prada so announced its 360 million Euro loan agreement with bank consortium Intesa Sanpaolo group who runs Banca Intesa.

The loan should enable the company to clean up its debts and finance development.

The house completed its fiscal 2009 with 2.8% operating profit partly thanks to new store openings in 2010. Its core brands are Miu Miu and Church’s. The latter posted a recurring profit of 290m Euros, compared to 282m in 2008.

These positive financial results and strong economic performance have enabled the group to self-finance the whole of its 120m Euro development plan. This is dedicated to the opening of 33 stores worldwide under the labels Prada, Miu Miu, Car Shoe and Church’s.

Up till now, the group owns 280 stores over 78 countries and distributes products through its extensive network of multi-brand outlets and franchises.

Copyright © 2024 FashionNetwork.com All rights reserved.