Richemont-Prada Partnership Rumors Persist Despite Denials

Prada is one of many luxury brands in debt, and speculation suggests the company may sell a minority stake.

The New York Post reports that jewelry conglomerate Richemont, owner of brands such as Montblanc, Cartier, and Van Cleef & Arpels, is contemplating plans to purchase one-third of the couture house. Thus far, however, the rumors have not been confirmed.

Last year, Prada approached Richemont about a possible partnership, but the brand was turned down because of its $3.8 billion price tag and $1.7 billion debt.Continue reading...