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A Public Prada Pushed Back

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Sep 18 2008 4:59pm EDT

A Public Prada Pushed Back

Prada has postponed its plans to go public, citing market turbulence, WWD reports. The Italian company, which reported an 11 percent growth in sales for the first half of 2008, probably won't list until 2009.

This isn't the first time Prada has teased the market with IPO talk--it floated the idea in 2001, before the Sept. 11 terrorist attacks shook markets. But last December the family company, which is owned by Miuccia Prada, hired Goldman Sachs, Intesa Sanpaolo, and UniCredit to arrange the offering. At the time, it was said that the company might be valued at more than $7 billion.

by Shannon Geis

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