Prada S.p.A. (PRDSY) Q4 2024 Earnings Conference Call Transcript Summary
Prada S.p.A. Reports FY Results
Major Italian brands are merging, PRADA is approaching a 1.5 billion euro acquisition of Versace.
It is said that Capri Holdings initially demanded 3 billion euros for Versace, and PRADA has been in intermittent negotiations with them regarding the acquisition of Versace for several months, with an agreement expected to be reached soon; the Trade may be completed in "a few weeks."
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Supply is in urgent demand, and cocoa inventory has sharply reduced to a historic low.
Due to severe weather and pests, the output from the world's largest cocoa producers, Côte d'Ivoire and Ghana, has significantly declined. The latest data shows that cocoa stocks at the London and New York Exchanges have fallen to historic lows, forcing chocolate manufacturers to seek alternative raw materials to maintain production. In the USA, this year's retail price of chocolate for Valentine's Day is 20% higher than last year.