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Who wants to buy some Prada...
Written by Daniel P Dykes
We all love adding the odd piece of Prada to our wardrobe, but British billionaire Richard Caring has certainly found a way to one-up as all: he's looking to buy the entire company.
According to Britain's Sunday Times Caring is currently in "secret" negotiations to purchase the company, but is competing against two private equity firms.
Prada as a company is estimated to be worth approximately £1.3 billion (approximately AU$3 billion), and the company is certainly in good shape. Since jettisoning in loss-making Helmut Lang and Jil Sander labels last year profits have risen 63% seeing the fashion house earning £54 million a year.
Written: 8th July 2007 at 17.49
Comments: Click Prada up for sale to read comments.
Author
Written by Daniel P Dykes.
Traditionalist and futurist are two of the labels applied to Daniel, but he sees the two as being in perfect balance. With a keen eye on the future and his finger on the pulse he helps keep fashionisers everywhere ahead in the fashion stakes as Fashionising.com's lead fashion trend analyst. Believing that the late-2000s credit crisis will be ultimately good for fashion, Daniel sees a future for fashion where grounded in traditional values; where luxury fashion again comes to represent quality production as opposed to being solely label driven.
Currently based in Melbourne, Daniel is Fashionising.com's Editor in Chief and Chairman.