The LUXURY Bubble is back.
Prada and now Ferragamo!!!!!!
http://www.bloomberg.com/news/2011-06-10/ferragamo-to-raise-up-to-576-2-million-in-ipo-of-italian-luxury-shoemaker.html
Ferragamo and other luxury-goods makers including Prada SpA are planning to sell shares to the public as demand for bags and shoes in Asia fuels growth and draws investors. The IPO values Ferragamo at as much as 24.4 times 2011 profit as estimated by banks arranging the sale. By contrast, LVMH Moet Hennessy Louis Vuitton SA (MC), the world’s largest maker of luxury products, trades at about 18 times earnings.
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