British luxury goods group Burberry may follow Prada, Samsonite and Coach as the next big brand seeking a listing in Hong Kong.
The company has consulted a couple of investment banks about an initial public offering in the city, a Hong Kong newspaper said. But it had not decided whether the listing would be secondary or by way of introduction, the Hong Kong Economic Journal reported yesterday.
The raincoat and handbag maker, best known for its camel, red and black check pattern, is listed in London with a market value of around GBP5.5 billion (HK$69.9 billion).
It operates 57 shops on the mainland and in Hong Kong and plans to increase the number to more than 100 in three to four years, the paper said. Burberry Group did not comment on the report yesterday.
'The story behind [the IPOs of luxury brands] still sounds attractive today, although investors' passion for these companies may diminish one day in case their pricing is over-high,' said Ben Kwong, chief operating officer of KGI Asia.
A number of local and international luxury goods companies have raised funds in Hong Kong or are planning IPOs.
Second-hand luxury goods seller Milan Station, which listed in Hong Kong on Monday, said it aimed to raise HK$200 million to expand its sales network across the border.