Following the footsteps of Prada and Jimmy Choo, luxury goods designer and manufacturer Salavatore Ferragamo SpA is treading a familiar path. Instead of following them to Hong Kong, Ferragamo have decided to stay in Italy. They have announced that they will be listing 25% of their company’s stock in the Milan stock exchange. The family-owned business wants to keep their “Made in Italy” roots intact, hence the decision to list it on Milan stock exchange.
They hope to raise €402 million ($578.5 million), listing the shares at €8 to €10.50 per share. The company’s Chairman Ferruccio Ferragamo also plans to pay dividends from their 2011 results. The iconic footwear brand will offer their IPO on June 29th 2011.
[WSJ]
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