×
320
Fashion Jobs
LIFE TURN MANAGEMENT CONSULTANT
sr. Manager Production - Sricity, Tada - Mnc Company - Engineering Ind
Permanent · Tada
MCKENZIE
Hiring For Retail Store Merchandiser / Manager
Permanent · Chennai
V2B GLOBAL CONSULTANTS
sr Technician Apparel -Buying Office
Permanent · Gurugram
MANPOWERGROUP SERVICES INDIA
Opening || Horeca Sales Manager || Kolkata
Permanent · Kolkata
ADIDAS
Senior Product Owner - Machine Learning & ai
Permanent · GURUGRAM
ADIDAS
Senior Technology Consultant - Omnichannel
Permanent · GURUGRAM
PUMA
Manager- Warehouse (B2C)
Permanent · Bengaluru
HARMAN FINOCHEM
sr. Manager- Api Production For Srp With Leading Pharma @ Aubad
Permanent · Aurangabad
PNB HOUSING
Area Sales Manager
Permanent · Thane
PNB HOUSING
Area Sales Manager
Permanent · Pune
JM FINANCIAL HOME LOANS LTD
Area Sales Manager - Home Loans
Permanent · Chennai
DANIEL WELLINGTON
IT Support Specialist
Permanent · MUMBAI
DBS BANK
Hiring For Area Sales Manager - Gold Loan
Permanent · Karaikal
DBS BANK
Hiring For Area Sales Manager - Gold Loan
Permanent · Thiruvarur
DBS BANK
Hiring For Area Sales Manager - Gold Loan
Permanent · Tirunelveli
AVANTOR
Area Sales Manager- Lab Consumables
Permanent · Pune
ADIDAS
Manager Brand Activation Originals
Permanent · GURUGRAM
ZACH LIFESTYLE PVT. LTD.
Manager - Content & Social Media
Permanent · MUMBAI
NEW ALFA INTERNATIONAL
Foundry Production Manager
Permanent · Dubai
MEDCIS PATHLABS
Medcis Pathlabs is Hiring For Pathology Area Sales Manager
Permanent · Visakhapatnam
PERFECT PUBLISHING SOLUTIONS
Area Sale Manager-b.Tech Fresher-German Mnc -Immediate Joining
Permanent · Bhubaneswar
PERFECT PUBLISHING SOLUTIONS
Area Sale Manager-Denmark Mnc - Medical Device or Hearing Aid
Permanent · Chennai
By
Reuters
Published
May 24, 2013
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Prada says not planning on making acquisitions

By
Reuters
Published
May 24, 2013

MILAN - Italian fashion house Prada is not planning on returning to the acquisition trail for now, its chief executive said on Thursday, dousing speculation it might be in the hunt for deals.

Prada was reported to be mulling a bid for Italian jeweller Pomellato before it was snapped up by PPR last month, fuelling talk it could go on a shopping spree again, as it did in the late 1990s and early 2000s and nearly collapsed under the weight of its debt because of it.

"We're not interested in acquisitions at the moment," Prada Chief Executive Patrizio Bertelli told shareholders at the luxury company's annual general meeting.

"We believe we have enough to do within our business as it is, so we absolutely do not want to distract ourselves and complicate things."

Prada floated two years ago, partly to raise cash to pay back its creditors.

The company acquired a string of companies including Jil Sander and Helmut Lang which it was forced to sell a few years later at a loss.

Prada has seen its net cash position improve to 312.6 million euros as at January 31, from 13.6 million euros in January 2012 and a deficit of 375.4 million in January 2011.

Bertelli's comment echoed those by rival Giorgio Armani who said earlier this week he was not planning on spending his cash pile of 565 million euros on acquisitions.

Armani is privately owned by its founder and saw revenues rise 16 percent last year to 2.1 billion euros - the same growth rate as Italian rival Gucci.

Meanwhile, Prada's turnover rose 29 percent in its fiscal year to January 31. to 3.3 billion euros, one of the highest growth rates in the industry.

© Thomson Reuters 2023 All rights reserved.