May 4, 2011
Ferragamo planning to list 25 percent of capital
May 4, 2011
May 4 - Italian fashion and luxury goods firm Salvatore Ferragamo is planning to list 25 percent of its capital on the Milan stock exchange "before the summer", an informed source told AFP on Wednesday.
Salvatore Ferragamo collection
Contacted by AFP, Ferragamo declined to comment on the report.
According to analyst forecasts cited by Dow Jones Newswires, Salvatore Ferragamo could be valued at 1.6 billion euros ($2.4 billion).
The company was set up in 1927 by Salvatore Ferragamo, a Florentine shoemaker who came back to Italy after living in the United States where he became famous for designing models for Hollywood stars.
Ferragamo now also makes clothes, leather goods and eyewear.
It is currently controlled by the Ferragamo family, which sold eight percent of the company's capital to Hong Kong businessman Peter Woo.
The group has 2,800 employees and 578 shops around the world.
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