Prada Group's statement: "The acquisition of shares in that" non-existent

Prada Handbags sent to the public Netease Statement:

July 12, 2010, Milan - for the recent Chinese media reports about Mr. Lu Jiang in the past two years has acquired 13% Prada Group shares the news, Prada Group, hereby solemnly declare that this series of untrue and unfounded. 94.89% of the Prada Group, owned by Ms. Prada family, the husband of Miuccia Prada and Patrizio Bertelli owned by Mr., another 5.11% of the shares held by banks by the BancaIntesa SanPaolo.

Prada Group on:

Prada Group is one of the world's leading luxury goods group, owns Prada, Miu Miu, Church's and Car Shoe brands, specializing in the production and sale of high quality handbags, leather goods, footwear, apparel and accessories. Prada Group also operate in the form of licensing business glasses, perfumes and mobile phones. Prada Group of 76 countries in the world with 280 outlets, but also by the strict selection of department stores, multi-brand boutiques and dealerships selling its products.

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April 2009, came PRADA order to strengthen the global competitiveness of large-scale expansion of the number of stores, but the financing of public offering in 2008, had to be postponed because of the financial crisis.

The summer of 2009, PRADA have repeatedly come out of their liabilities have to sell shares of the heavy news of the "rumor" when the land roundabout strong attack on the PRADA empire has already begun.

Subsequently, China's Economic Observer newspaper reported the news of the acquisition of the land strong, the paper said, Lu strong in the past two years Prada has indirectly acquired a 13 percent stake, plans to 20% equity holdings in order to become its largest shareholder.

The newspaper said the land had passed through an unidentified strong Italian consulting firm to buy shares worth 2 million euros. Prada but then raised the price. Lu Qiang was quoted as saying that, "(Prada that) the company brand to the Chinese management would undermine the quality and style." The paper said that the acquisition of land and strong team had planned to come through the purchase of this stake in the Italian fashion company's creditors, which in turn invests Prada 4.5 billion euros.

The paper said, but the acquisition cost has risen to 600 million to 700 million euros between. It quoted Qiang Lu said the failure to buy more shares on Monday, he will sell its existing Prada shares, also said, "I will sell all the shares currently held."

Recently, however, the rich land off Sri Lanka Strong Holding Group CEO said in an interview, "The acquisition of formal negotiations broke down, we have begun to sell shares of the hands of Prada." Qiang Lu said that because other companies can not accept price behavior, which pile going on for nearly 2 years formal termination of takeover talks. The paper said, Lu strong in the past two years Prada has indirectly acquired 13 percent stake, plans to 20% equity holdings in order to become its largest shareholder.