Brunello Cucinelli to debut IPO in Milan

Italian luxury ready to wear brand mostly known for its cashmere products, Brunello Cucinelli have announced the intention for an IPO on Milan’s Borsa (Stock Exchage) in October, putting up a stake of 38%, the minimum legal requirement being 35%. The brand is present at 1.000 doors internationally and has 60 stores, most of them in franchising. Florence, Madrid, St Moritz are among the upcoming store openings by the end of 2011, two being in China.