FERRAGAMO sees steady recovery in 2010 and remains committed to at IPO

Michele Norsa, the CEO of Italian luxury brand SALVATORE FERRAGAMO stated in a media briefing that the company remains committed to an IPO for the beginning of 2011. One of the options is Milan, yet the company is also considering Hong Kong which might offer more advantages. Recently, L’Occitane has made a successful IPO on the Hong Kong Stock Exchange raising EUR 532 million aimed at financing its international expansion. PRADA, a key direct competitor of Ferragamo has already delayed its IPO five times among fears of foreign ownership.