Italian luxury fashion house Parda is now all set to raise its price as much as 2.6 billion after having set the price range for its highly anticipated offering in Honk Kong on June 24, as per the report. The company has set its IPO price range as it began meeting with Asian investors and started book building for institutional investors to test their appetite for the deal. The company for now is all set to launch its Honk Kong offering on June 14.

The IPO which is expected to raise $2 billion to $2.6 billion based on the range. The firm also has an option to sell an additional 63.49 million shares if the shares are oversubscribed in any case, according to Dow Jones.

The company if continues like this is forecasted to be the world's top buyer of the products such as cosmetics, handbags, watches, shoes and clothes by 2015, according to consultancy PriceWaterhouseCoopers.

Prada has now plans to use the proceeds from the IPO to expand its sales network, increase floor space, repay bank loans and supplement working capital, the term sheet said. For more details and to talk about the future of the Prada, its spokeswoman in Hong Kong could not be reached for comment.