Italian luxury goods firm Prada has entered into a new EUR360m (US$455m) loan agreement with its lenders.

The company said in an emailed statement that the loan was intended to meet its "development needs".

Prada has reported an upsurge in recent sales and profit growth, having invested in a boosted retail network, the company added.

just-style reported last month that Prada could also renew plans for an initial public offering (IPO) on the stock market, which have been on ice since 2008.