Could a Prada Sale Be Luxury’s Next Mega-Deal?

Is another mega luxury M&A deal in the works? After the LVMH Moët Hennessy Louis Vuitton-Tiffany tie-up and the rumors about a possible Kering takeover of Moncler, speculation is swirling that Prada may be looking for a buyer. On Thursday, a spokesperson for Prada denied the company was for sale. But according to sources, Prada’s co-chief executive officers Patrizio Bertelli and his wife, creative director Miuccia Prada, flew to Paris last December to meet with Kering chief François-Henri Pinault. A separate source said that Compagnie Financiere Richemont may be another interested party. The luxury giant, which specializes in hard luxury, and has a fashion and accessories division that includes Chloé and Dunhill, has been in an acquisitive mood of late, having purchased Buccellati last year and formed a joint venture with designer Alber Elbaz for a new fashion and lifestyle company. An asset such as Prada, one of the most recognizable, directional and established fashion brands around, via an outright purchase or merger, could transform the fortunes of its soft luxury division. Richemont declined to comment. The company plans to report third-quarter and Christmas trading figures on Friday. This is not the first time that Prada and Richemont have been linked in a possible deal. Ten

Follow WWD on Twitter or become a fan on Facebook.

from WWDWWD https://ift.tt/362w1xx