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Two trends I see [in mens] are height and treatment. The newest shapes are chukkas that hover at the ankle for men wearing shorter pants and shorts. Were also seeing a lot of boots,...

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Shares of Italian fashionhouse Prada SpA could be overpriced by as much as 41percent, Hong Kong brokerage Phillip Securities said in a reporton Tuesday. Milan-based Prada, known for its leather handbags andcolorful dresses, is seeking to raise $2.6 billion though a HongKong listing. The company last week set an indicative pricerange of HK$36.5 to HK$48 a share for its IPO, which was fivetimes subscribed, a source told Reuters on Sunday. . Phillip Securities, which focuses on retail investors, gavePrada a target price of HK$28.5 over the next 12 months andrecommended investors not to subscribe to the offering. Theretail offer opened on Monday and the IPO is set to be priced onFriday. The brokerage called Prada an "aggressively priced luxurybrand," despite strong growth for the company's MiuMiu businessin Asia and expansion prospects in China and other emergingmarkets with directly-operated stores. Prada trades between 26 times to 34 times its expected 2011earnings, far higher than an average of 20.4 times for luxurycompanies including LVMH , Hermes , and CieFinanciere Richemont , according to Phillip Securitiesforecasts. Concerns about a slowdown in China and other major economiescould also weigh on demand for luxury goods that has drivendouble digit growth in sales for Prada the past years, it said. Companies including U.S. lender Ally Financial, Australianmining startup Resourcehouse Ltd and Chinese auto parts firmNanning Baling Technology Co have shelved IPOs due to waninginvestor appetite. Luggage maker Samsonite priced its Hong KongIPO last week at the bottom of a revised price range. "Because of the current situation, with the volatility inthe stock market, even though I like the stock, I would suggestonly cash subscription, not margin financing," said Dickie Wong,executive director of research at Kingston Securities Ltd. "I don't see a lot of upside in the first day debut, giventhat the valuation is not that low." (Reporting by Elzio Barreto; Editing by Jonathan Hopfner)