The Prada Group fashion house has again postponed plans for an initial public offering of its stock.

At the start of last month the company said it was planning on a public offering before July 2005, but now says it has no intention of going public next year.

Prada has already postponed a sale of the company - which would help repay the €700 million worth of bonds its sold in 2001 - a number of times over the last three years.

According to the New York Post, a spokesman for the Italian fashion house did not rule out an offering at some point, but said the company has no plans to go public in 2005.