Patrizio Bertelli, Prada’s chief executive, said yesterday that he was considering an initial public offering in 2008 to provide the “best opportunities to grow and develop the Prada group in the coming years”.

His comments came after Italy’s Banca Intesa took a 5 per cent stake in a deal that values the fashion group at €2.75 billion (£1.85 billion). It was the first time that Prada, which had been 100 per cent owned by Mr Bertelli and his wife Miuccia Prada, had opened itself to external investors.

A Prada spokesman said that a listing would not take place in 2007, but that “the next year, we will set things in motion for a possible listing in 2008”.

The flotation plans come after several aborted attempts to bring Prada to the stock market. Yesterday, some market observers and analysts were sceptical that the company would go through with the listing this time. They noted that pressure for an IPO was likely to come from Banca Intesa, which would be keen to line up exit routes.

Analysts questioned whether Mr Bertelli would welcome interference from external shareholders, on top of the demands of being listed. One analyst said that a stock market listing would offer Prada the opportunity to fund its expansion freely, and lessen its reliance on Italy’s banks, which are traditionally conservative.

Banca Intesa paid €100 million for its 5 per cent stake, and under another funding package with other banks will lend Prada €200 million. Prada’s debts are understood to stand currently “below €700 million”.

Prada first toyed with the idea of going public in 2000. It was most recently linked to IPO speculation in 2004, but as on previous occasions, cited negative market conditions as a reason for pulling the float.

The company, which owns the Miu Miu brand, reported a fivefold rise in net profits to €47 million last year, on a 10 per cent increase in sales to €1.33 billion.

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