Archive for July 14th, 2007

Giorgio Armani Towers in Japan!

Saturday, July 14th, 2007

Giorgio Armani Towers in Japan! “Ginza is literally an intersection that is now attracting a diverse and international cross section of fashion consumers who are attracted by the energy and excitement that has been created there.” Giorgio Armani said.

Giorgio Armani, one of the world’s most successful fashion designers, has unveiled his concept for a new Armani/Ginza Tower in the high-profile shopping district of Japan’s capital. The concept is approximately 65,000 square feet over 12 floors and two basement levels. Set to open in November, the space will feature the Giorgio Armani, Emporio Armani and Casa collections, along with the brand’s first spa, an Italian restaurant and a Privé bar. There also will be showrooms and the new corporate headquarters of Giorgio Armani Japan Co. Ltd.

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Prada Forsale?

Saturday, July 14th, 2007

Prada Clothing Forsale If rumours are to be believed, British restaurant tycoon Richard Caring is in secret talks to buy Prada. Dick owns The Ivy, Le Caprice and also the legendary Annabel’s nightclub and is reputed to be up against at least two private equity firms, if he does make a bid for the Italian fashion house. Caring made his fortune supplying apparel to clients like Sir Philip Green, owner of Arcadia.

Meanwhile, Prada has denied these rumours and has, instead, indicated that an IPO is on the horizon. The company first announced its intention to go public in 2000 and has since postponed an IPO four times. Prada told the FT that an IPO could come in either 2008 or 2009 and that it had no interest in selling to a private equity firm or private investor. Last December, Prada was valued at €2 billion, however, the FT estimates that the company could now be worth €3 billion in the current luxury-hungry climate.

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