Following a year of record-breaking sales, Miuccia and company confirmed that Prada SpA will list its shares in Hong Kong, after receiving the green light from the listing committee late Thursday evening.

The projected time line is as follows:
May 20: Company officials will have several weeks to pre-market the Initial Public Offering.
June 6: The company will begin presenting to investors.
June 24: Tentative listing date (Bloomberg)
This comes as no surprise for several reasons.
Prada has previously flirted with the idea going public, and almost did in 2001 until the aftermath of September 11 resulted in a luxury market downturn. 
In December 2010, the Milan-based company announced that it had enlisted Goldman Sachs Group, Inc., Intesa Sanpaolo SpA and UniCredit SpA to take it public within the year. Then, in late March, Prada reported that net profits in 2010 were up 150 percent, a record for the Italian fashion house. "The group has a strong industrial and distribution structure, ready to seize the best opportunities offered by any market," added Prada CEO Patrizio Bertelli.
And by best opportunities, Bertelli (also husband of Miuccia Prada) clearly wanted the Asian-Pacific market, as it is currently the company's fastest-growing, with one-third of Prada's 326 stores operating in that specific region. Mainland China alone will account for 20 percent of the world's luxury market before 2015.
Furthermore, Prada is expected to raise up to $2 billion from investors before the IPO, the Wall Street Journal reports. The fund raising effort also hints that Hong Kong is emerging from the catastrophic aftermath of an 8.9-magnitude earthquake and tsunami, that devastated much of the north-east coast of the country in March.
On Monday of this past week, Miu Miu, sister label to Prada, made headlines when the it confirmed that it had enlisted 14-year-old talent Hailee Steinfeld, as the latest face of the company. A representative announced that the True Grit and Academy Award supporting actress nominee has already been photographed to appear in the Miu Miu F/W 2011 ad campaign. Steinfeld received praise for her choice of a Spring/Summer 2011 Prada dress at the 2011 SAG Awards. View the dress here.
Other luxury goods companies expected to go public in 2011 include Salvatore Ferragamo and Jimmy Choo. Prada's IPO is the first from any Italian company in Hong Kong: A clear indication that luxury fever has not only swept East-Asia, but the opportunities for tremendous growth in the region for companies, like Prada, are inevitable. Next up, perhaps, Hermes?