Skip Nav
Spring Fashion
37 Weekend Outfits to Have on Hand — Till the End of Time
Cara Delevingne
If This Is Cara Delevingne's Engagement Ring, She's 1 Very Lucky Girl
Hillary Clinton
Even Hillary Clinton Took a Style Note From Michelle Obama at the DNC

Rumors of Prada and Richemont Joining Forces Bubble Up Again

>> For the second time in six months, reports of luxury conglomerate Richemont (think Cartier, Van Cleef & Arpels, Chloe) taking a stake in Prada have surfaced.  Both times, Prada has vehemently denied the possibility — first in August and again today — but if the union were to take place, as the New York Post suggested, it could create quite the competitor for Richemont rival LVMH.

Prada has long expressed interest in going public and rejected past private equity offers, but its current debt — $1.7 billion worth — has prevented company expansion.  If Richemont acquired one-third of the company as reports imply, with the possibility of an eventual majority investment, Prada would be much better equipped to take on emerging markets. But again, Prada "categorically denies any negotiation whatsoever to sell any share to Richemont."  And although a Richemont spokesman says the company doesn't comment on rumors, a source close to the company told WWD of the story: "just silly. I don't know where they got it, and clearly it's a quiet time for news."

Around The Web
Join The Conversation
Amal Clooney Rosie Assoulin Top in Cannes 2016
Prada Highlights Fall 2016
Prada's Runway to Consumer Fall 2016 Bags
Sexiest Dresses at the Golden Globes 2016
Who Is Hannah Davis?
Street Style Shoes and Bags Paris Fashion Week Spring 2016
Sarah Jessica Parker Sex and the City Shoes

POPSUGAR, the #1 independent media and technology company for women. Where more than 75 million women go for original, inspirational content that feeds their passions and interests.

From Our Partners
Latest Fashion
X