Prada Mulls Public Offering to Pay Off $1.4 Billion Debt

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Photo: Imaxtree

The label, which is 95 percent owned by Miuccia Prada and her husband Patrizio Bertelli, says from time to time that its thinking about officially going public any moment now. It hasn't happened yet, but the couple is now considering putting some shares up for sale next year in Hong Kong, that part of the world every luxury company is focusing on. Selling shares would help Prada pay off its debt, which is about $1.4 billion, which is greater than the GDP of Belize and lots of other countries. Now that is bananas. [British Vogue]