Prada To Ink Deal With Richemont

January 5, 2010 • Fashion


According to the New York Post, Prada is close to a deal to expand with jewelry maker Richemont by selling about a third of the label. This includes holdings like Van Cleef & Arpels, Montblanc and Cartier.

Though the deal is far from going public, sources are claiming that if this deal with Richemont goes through, the duo could create a new fashion powerhouse that would rival LVMH and be better equipped to conquer and expand into fast-growing territories like China and India. Eventually, Richemont could have the possibility of eventually taking control of Prada with a majority investment. 

Infamous Prada owners' Miuccia Prada and her husband, Patrizio Bertelli, has $1.7 billion in debt in loans from various designer collaborations, and been trying repeatedly to collect funds for its growth.

"It will be interesting to see how [Bertelli] gets along with Richemont," a notoriously conservative company, said one source close to the negotiations.

—Taneisha Jordan


See the Top Ten Summer 2016 Trends for Women Over 40

Tags: , , , , , , , , , , , , , ,

One Response to Prada To Ink Deal With Richemont

  1. Shoequeen says:

    If the deal does go through, that will be a very powerful fashion brand

Leave a Reply