Trussardi could sell minority stake in future -newspaper
MILAN Aug 27 (Reuters) - Italian fashion house Trussardi can finance its own investments for at least the next five years but could consider selling a minority stake to secure funds in the future, the family-owned company's chief executive was quoted as saying on Tuesday.
"If we needed to in the future - an option I am inclined to exclude for the moment - the family could sell a minority stake to finance development," Tomaso Trussardi told Italian daily La Repubblica, adding that the family is determined to retain a majority stake.
French conglomerate LVMH's purchase of 80 percent of Italian cashmere brand Loro Piana in early July has fuelled speculation that other venerable Italian fashion companies could be snapped up by foreigners.
Asked whether his firm would follow Italian brands including Prada and Salvatore Ferragamo with a stock market listing, Trussardi said he didn't rule anything out but that Trussardi had no difficulty financing itself.
Some of Italian fashion's biggest names, including Versace and Giorgio Armani, remain family-owned, which leads to speculation over succession plans and possible changes to their corporate structures. (Reporting By Isla Binnie; editing by Jane Baird)
- WTO overcomes last minute hitch to reach its first global trade deal
- Pennsylvania newlyweds "just wanted to murder someone together:" police
- Colorado baker discriminated by denying gay couple wedding cake: judge
- U.S. freeze shows no sign of weekend melt after deadly storm
- Flights delayed as air pollution hits record in Shanghai