14 April 2011

Combining Fashion and Finance: Salvatore Ferragamo planning IPO by end of 2011

Salvatore Ferragamo, the Italian luxury fashion group that is best known for its beautiful shoes and other high-end leather goods, announced yesterday that they are planning an IPO by the end of this year, and possibly as early as July.  The company, based in Florence, has already lined up JP Morgan and Mediobanca as joint lead-managers and global coordinators.  

At least thirty percent of the total offering would be issued in the United States and Japan.  Investors will likely be eager to get their hands on a piece of Ferragamo, which enjoyed a 26% earnings increase last year, giving the company 786 million euros in revenue and 61 million euros in net profit (113 million euros EBITDA).  The value of the company is estimated at between 1 billion and 1.7 billion euros. 

source: Reuters

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