Fashion group Prada Holding's initial public offering - expected in June and Italy's largest by a non-state company - will create a new public luxury goods group to rival LVMH Moet-Hennessy Louis Vuitton SA and Gucci Group NV. Growing uncertainty about the economy and the strength of the Japanese yen don't make an ideal backdrop for a luxury-goods IPO, but investors can benefit when the offer is priced, analysts say.