Hong Kong: Protesters ask stock exchange to look closely at Prada's discriminatory practices before approving listing application

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3 May 2011

Protesters decry Prada as biased devil in IPO storm [Hong Kong]

Author: Samson Lee, Hong Kong Standard

Local women's rights concern groups have urged Hong Kong Exchanges and Clearing to think twice before approving an initial public offering application by fashion retailer Prada. About 20 members of various groups...staged a protest outside a Prada branch..[A] senior retail manager, Rina Bovrisse, was fired by Prada Japan in 2009 after she complained about the chief executive's order to eliminate about 15 managerial staff he described as "old, fat, ugly, disgusting or not having the Prada look"...The groups urged Prada to explain if it has appropriate anti-discriminatory policies in place...Concerning Bovrisse's accusations, Prada earlier said the company had a very rigorous code of ethics. It said appearance, age, gender, political views, social status are not taken into account when recruiting or assessing people. It added it is disappointed at how the accusations are repeatedly reported and presented as truthful.

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28 April 2011

Letter to HKEx: Prada SpA to file for IPO in Hong Kong

Author: The Association for the Advancement of Feminism [Hong Kong]

Recently it has been reported that..Prada...plans to file for IPO in Hong Kong this summer. We are concerned that the company is suspect of discriminatory practices towards female employees in Japan, and that such complaints are still currently under investigation...[W]e are shocked by the company's discriminatory practices against women employees...[T]he Hong Kong Stock Exchange should require listed companies to establish, execute and monitor policies that are conducive to gender equality and that which are in observance with Hong Kong's anti-discrimination ordinances...

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