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The Globe and Mail

Italian fashion house Ferragamo plans IPO

Salvatore Ferragamo SpA is following Prada in planning to go public to raise cash.

Fashion listings and deal makings stalled by the financial crisis are picking up as the luxury sector returns to health.

Ferragamo plans to list up to 25 per cent of the company in an initial public offering on the Milan Stock Exchange in late June. Ferragamo's value has been estimated at €2.25-billion ($3.28-billion U.S.) in the move announced late Monday.

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Italian fashion house Prada plans to raise up to $2.6-billion in a listing in progress on Hong Kong's stock exchange.

Winter sportswear-maker Moncler SpA, meanwhile, is opting for direct investment and cancelled a possible IPO. It will sell a 45 per cent stake to French investors Eurazeo in a deal that values Moncler at €1.2-billion.

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