Factbox: Five facts about Prada’s family history

(BestGrowthStock) – Italy’s luxury group Prada could become the first European fashion house to float in Hong Kong in 2011, pending concerns over a dual listing and market recovery.

Here are some facts about Prada, designer Miuccia Prada and her husband and Chief Executive Officer Patrizio Bertelli:

* In 1913, Mario Prada opens the first Prada store in Milan’s grand 19th century Galleria Vittorio Emanuele II, where he mostly sells luxury leather travel cases.

* A former mime and leftist political science student in Milan, Miuccia Prada takes over her grandfather’s company in 1978. Her minimal black nylon backpack becomes a sensation in the 1980s and she is later named by The Wall Street Journal as one of the thirty most powerful women in Europe.

* Around the same time she takes over the company, Miuccia Prada meets future husband Patrizio Bertelli, who takes on the role of CEO, while she focuses on designing. The temperamental Bertelli had started his career in the business by setting up a factory in the Tuscan city of Arezzo, where he makes belts and bags and works under license with Prada.

* The 1990s are booming years for Prada, which launches its second brand Miu Miu and goes on a shopping spree, buying stakes in fashion brands Helmut Lung, Jil Sander and Fendi, which it later sells.

* In 2000, Prada Holding plans to float to help pay off debts, but a decline in luxury spending, particularly in the United States and Japan, prompts it to delay the offering. In 2008, Prada postpones its IPO plan for the third time.

(Sources: Bernstein Research, Corporate reports and website)

(Compiled by Antonella Ciancio; Editing by Jon Loades-Carter)

Factbox: Five facts about Prada’s family history