Prada and Ferragamo Are Getting Competitive With Their IPOs

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From left: Chiara and Massimo Ferragamo, Miuccia Prada. Photo: Michael Loccisano/Getty Images, Vittorio Zunino Celotto/Getty Images

Prada hopes to raise $3 billion for its initial public offering in Hong Kong, which is much higher than the $2 billion that was initially expected. Meanwhile, Salvatore Ferragamo's listing on the Milanese stock exchange has been officially approved; both IPOs will launch by the end of this month. Ferragamo is shooting for a similar, if not higher, valuation than rival Prada: They first pegged their worth at about $2.1 billion, according to sources, and now it's closer to $3.29 billion.

Prada Eyes $3 Billion in IPO [WSJ]
Salvatore Ferragamo IPO Approved [WWD]