Prada acquires Marchesi Angelo Cafe in conjunction with Miu Miu

The Prada SpA Prada Group obtained additional income after the failure to acquire the cafe Cova. After the Hong Kong stocks trading on March 14, Prada SpA Prada Group issued a statement announcing the acquisition of an 80% stake in Marchesi Angelo Srl, another 100-year-old operator of Pasticceria Marchesi. Both sides disclose the specific transaction price.

The Marchesi Angelo Cafe was founded in 1824 and is currently run by Angelo Giovanni Marchesi and his wife, Maria Rita Lacchini. Angelo Giovanni Marchesi will continue to serve as general manager of Marchesi Angelo Srl after the transaction.

Prada SpA Prada stated in the statement that it will promote the Pasticceria Marchesi brand and combine it with the group's skins Prada and Miu Miu, and the deal is part of the group's plan to strengthen the Galleria Vittorio Emanuele II Emmanuel II promenade project.

In early 2013, Prada SpA Prada had negotiated another café operator Pasticceria Confetteria Cova Srl, who also had a long history, but later lost to LVMH Moët Hennessy Louis Vuitton SA, the Hennessy-Louis Vuitton Group. To court. According to Prada Prada, negotiating correspondence between both parties and the Faccioli family, the former holding family of the Pasticceria Confetteria Cova Srl, actually constituted a real estate transaction for the Cova Café and was legally binding. Therefore, it requested the court to seize the property of Cova but lost.