Italian luxury goods company Prada is expected to renew plans for an initial public offering (IPO) on the stock market.

It follows an upturn in recent trading at the firm, which expects to exceed earnings targets for the year.

A spokesperson for the company told just-style: "We are still considering this opportunity but we have not officially restarted plans for an IPO."

He said the plans could not be confirmed yet, and would depend on better market conditions.

Prada considered a floatation in 2008, before delaying plans to monitor the financial markets.