The Prada Group had delayed flotation on the stock market, raising questions about the company's overall strategy. A spokesman for the Italian fashion told the New York Post the house did not rule out an offering at some point, but said the company has no plans to go public in 2005, a possibility previously suggested by Prada's chief executive, Patrizio Bertelli.

Prada has 700 million euros in convertible bonds that come due in June 2005, which are expected to be refinanced by a group of Italian banks. Prada first began flirting with the idea of a public offering in 2000, as a way to raise money to pay down debt incurred from a buying spree that saw it snap up a handful of brands, including Jil Sander and Helmut Lang.

Rocky stock markets eventually caused Prada to postpone its plan three times, before ultimately shelving the IPO in 2002. Instead, the company began selling real estate and non-core assets like a 45 percent stake in Church's to help reduce its debt. Talk has lately centered on whether Prada would step up its divestment plans by selling some of the smaller labels like Jil Sander and Helmut Lang, that seemed like trophies when they were acquired at the height of a luxury acquisition craze, but have since proved a drag on sales and profits.