Six luxury and fashion companies to float in Milan in 2014
Raffaele Jerusalmi, the chief executive of Italy’s stock exchange, advanced earlier this week that at least six luxury goods and fashion companies are looking to list in Milan in the first half of 2014. Not all of them will make it to the larger trading floor though, as some have shown interest in the small cap market.
Talkingwith press and other stakeholders during the “Luxury & Fashion 2013” event organised in Milan earlier this week, Raffaele Jerusalmi advanced some exciting news for those attending the road show organised by the Stock Exchange in collaboration with Italian Vogue in which 13 companies in the fashion and luxury goods, both listed and private, meet investors from Europe, America and Asia.
While not disclosing any names, Jerusalmi said that half a dozen of luxury goods and fashion companies are currently exploring their listing in Milan. A few are looking to quote on the exchange’s AIM market for smaller firms.
“Among the companies that have decided to go public, such as Moncler, there are other fashion companies that will come in the first half of 2014, of which we cannot give notice. Might be four or five,” he said, as reported by industry media.
Six private-owned and family-ran companies to list in Milan
The potential listers include family-owned and private equity-owned companies, added the Milan Stock Exchange’s premier.
Jerusalmi also noted there were around 131 companies currently in the exchange’s Elite programme, many of them luxury goods makers, which means the bourse’s operator is “creating a pipeline of potential listers.”
Almost half of fashion and luxury goods IPOs in the past four years have taken place in Milan, Jerusalmi recalled, adding that “We feel we have all the potential to become the reference market for the sector, even for companies based in foreign countries.”