Just as Qi Sheng was on a wild shopping spree with his girlfriends at Taikoo Li and the International Gold Center,
the entire fashion world was thrown into an earthquake of epic proportions by an official announcement from the Prada Group.
Prada, the renowned blue-blood luxury brand, had been acquired by a conglomerate from China.
The Prada family did not disclose the specific details of the transaction.
However, the total transaction value reached a staggering 15 billion US Dollars.
What shocked many people even more was that this acquisition was unlike other mergers and acquisitions in the luxury sector.
Those usually involved a year or two of back-and-forth negotiations alone.
This massive deal, however, was completed in less than 24 hours—a truly lightning-fast acquisition.
Compared to the mysterious Chinese conglomerate, the LVMH Group's acquisition of Tiffany seemed downright petty.
The market caps of Tiffany and Prada were not far apart.
