|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||7.28 - 7.28|
|52 Week Range||5.38 - 8.37|
|Beta (5Y Monthly)||1.22|
|PE Ratio (TTM)||33.70|
|Forward Dividend & Yield||0.13 (1.82%)|
|Ex-Dividend Date||May 04, 2019|
|1y Target Est||N/A|
Last season, with Prada pulling out to show in Shanghai, Milan’s menswear fashion week seemed to be under threat of extinction; yet this time, there was a sense of a turnaround. The men’s schedule was bolstered with the return of Ferragamo (a quiet brand with annual turnover standing at more than €1.3bn), and the behemoth that is Kering’s Gucci, which was back on the menswear calendar for the first time since June 2016. Gucci was the first to eschew segregated men’s and women’s weeks and show both genders in a single show, and in its wake a slew of other brands opted to go the same way: Burberry, Bottega Veneta, Balenciaga, Céline.
There are relatively few designers who alight the production of jackets and handbags with a world view, but Miuccia Prada played New Order on her soundtrack for Autumn/Winter 2020 and sent models ricocheting out into two surreal piazzas, reminiscent of the paintings of Giorgio di Chirico and centred around an eight-legged cut-out horse with painted-on shadows, as part of a statement about the complexities and difficulties of the geopolitical status. Prada shared that Met show, fittingly enough, with the surrealist designer Elsa Schiaparelli, whose unsettling work in the 1930s was aligned to Dali and Magritte and reflected the uncertainty of those turbulent and troubled times. Mrs Prada said backstage that the statue was ‘Anti-Heroic’ — her version of the famed equestrian statue of Marcus Aurelius on the Capitoline hill in Rome.
(Bloomberg Opinion) -- Moncler SpA’s hotline just blinged. The brand, sported by Drake in his video for the popular song of that name, is being courted by Kering SA, according to Bloomberg News.Moncler has been a fashion-hit maker itself. If Francois-Henri Pinault’s Kering wants to get its hands on it, the Gucci owner will have to pay a price as rich as that commanded by one of its $1,000-plus down jackets.The Italian brand, with a market capitalization of 11 billion euros ($12.2 billion), would bring a sizable name that’s still capable of growth to Kering, valued at 69 billion euros. It would also usefully reduce the French group’s reliance on Gucci, which now accounts for more than 60% of group sales and 80% of operating profit.Moncler has scope to add further stores, particularly flagship locations, in China. While it has successfully expanded its range of products from its core down jackets into knitwear, there is an opportunity in bags and accessories. Kering’s expertise would bolster these ambitions. Digital marketing skills and the French company’s focus on sustainability could be useful too, as younger luxury buyers’ concerns about natural resources, such as down and fur, shape their buying habits.But Moncler won’t come cheap. Assuming a 25% premium over Wednesday’s closing price, a takeover would cost about 12 billion euros, adjusting for estimated net cash of 550 million euros. That equates to about 20.5 times this year’s likely Ebitda, exceeding the multiple that Kering’s French arch-rival LVMH has offered for the iconic diamond and jewelry brand Tiffany & Co.With Moncler forecast to make about 750 million euros of operating profit in 2023, the returns from a deal would be a mere 5% after tax, unless Kering could turbocharge the business. Given that the target is already well run under Remo Ruffini, its chief executive officer and biggest shareholder, that looks like a tall order. Moncler's operating margin is already strong at about 30%.This wouldn’t be a case of taking a tired brand and rejuvenating it. So the pressure would be on Kering to engineer ways of achieving higher sales in order to earn returns at closer to the 7%-8% level that would make a deal easier to justify.The French house can afford Moncler. Assuming an all-cash deal, net debt would increase from 0.4 times Ebitda to 2.4 times. That’s manageable. Kering also has a 16% stake in sportswear maker Puma SE, worth about 1.6 billion euros, to play with. But a deal would wrap up much of Kering’s acquisition firepower up in a puffer jacket, leaving little room to expand into other areas, such as jewelry.There is better value to be found elsewhere, for example in Britain’s Burberry Group Plc, whose recovery plan has yet to pay off. Kering could also bring the skills it used to reinvigorate the Gucci brand to Prada SpA or Salvatore Ferragamo SpA. While this could mean more upfront investment, there is a much bigger turnaround potential.Although Burberry has no controlling family, Prada and Ferragamo do. So far, they have shown no indications of wanting to sell. A reshuffle of Moncler’s ownership recently reduced Ruffini’s stake to 22.5%Even so, Moncler’s down jackets are best known for keeping out the cold. The company has plenty to help it repel a predator, or more likely, make them pay a bulky price.\--With assistance from Chris Hughes.To contact the author of this story: Andrea Felsted at email@example.comTo contact the editor responsible for this story: Melissa Pozsgay at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Andrea Felsted is a Bloomberg Opinion columnist covering the consumer and retail industries. She previously worked at the Financial Times.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
The Prada fashion group has signed what is billed as the first business loan in the luxury goods sector linking the annual interest rate to practices that help the environment.
Prada S.p.A. (HKG: 1913) has come to an agreement with its co-CEO Miuccia Prada to take over four of the company’s stores she controls, Bloomberg reported on Tuesday. The Italian fashion trailblazer will ...
Ben Ainslie named his new multi-million-dollar America's Cup yacht "Britannia" on Friday as he launched the revolutionary foiling AC75 he hopes will bring international sport's oldest trophy back to Britain. Ainslie's INEOS TEAM UK are aiming to challenge Emirates Team New Zealand for the America's Cup in Auckland in 2021 and the futuristic boat will soon be put through its paces on the waters of the Solent, near his base in Portsmouth, southern England. INEOS TEAM UK is the fourth team after New York Yacht Club's American Magic, the defenders Emirates Team New Zealand and Prada's Luna Rossa to reveal their take on the design rules for the 36th America's Cup.
Ben Ainslie named his new multi-million dollar America's Cup yacht "Britannia" on Friday, as he launched the revolutionary foiling AC75 he hopes will bring international sport's oldest trophy back to Britain. Ainslie's INEOS TEAM UK is aiming to challenge Emirates Team New Zealand for the America's Cup in Auckland in 2021 and the futuristic boat will soon be put through its paces on the waters of the Solent, near his base in Portsmouth, southern England. INEOS TEAM UK is the fourth team after New York Yacht Club's American Magic, the defenders Emirates Team New Zealand and Prada's Luna Rossa to reveal its take on the design rules for the 36th America's Cup.
HONG KONG/PARIS/MILAN (Reuters) - Global luxury brands from Prada to Cartier are counting the cost to their businesses of four months of unrest in Hong Kong that has kept tourists away and forced shops to shut, with upcoming results set to reveal the damage. Hong Kong, which ranks among the world's top five luxury destinations, has long been a magnet for brands attracted by the flow of visitors from mainland China. Visitor arrivals dropped 39%, with the number of mainland tourists to Hong Kong falling 42.3%.
Italy's fashion industry expects its revenues to stall this year, with growth of just 0.1%, a far cry from the average 3% annual growth rate it has achieved over the last decade and which it hopes to recoup in 2020. The business is the main exporting sector in Italy, which is home to firms including Prada and Salvatore Ferragamo , with around 75% of its turnover generated abroad. Next year, we hope to return to the growth rates we are used to", Carlo Capasa, chairman of Italy's National Fashion Chamber, said on Thursday.
PARIS/NEW YORK (Reuters) - When fashion label Prada started demanding greater control over shop floor arrangements in U.S. department stores, Barneys New York, now mired in bankruptcy proceedings, was one of the few with enough swagger to resist. The luxury retailer, respected by its well-heeled clients for its selection, said in interviews at the time it wanted to maintain its influence over buying the merchandise rather than ceding to a leased shop-in-shop controlled by the brand. Prada eventually reintroduced its women's styles to the department store after a three-year hiatus, and still counts Barneys as a wholesale partner, a person close to the label said.