Prada May Sell Minority Stake FINANCIAL, LABEL, MAIN 01.06.10Written By Ben

Though Prada has been managing their debt quite successfully, rumors have resurfaces that indicate that the label may sell a minority stake. The buyers of the stake may be Richemont, owners of Cartier and Montblanc, are in deep talks to buy one third of the company.

This could be good and bad news for Prada since it may give the jewelry giant, Richemont, a large stake of ownership. This also means that this move could expand Prada into a global luxury label that will compete with companies like LVMH.

Ultimately, this means that Prada will be able to expand into markets such as China. Currently, Patrizio Bertelli, the CEO of Prada and husband of Miuccia Prada, owns 95 percent of the label. If the rumors are true, this may significantly change in the near future.

Source: The Cut